John Deaton Holds 75% in Bitcoin, Faces Maximalist Criticism

Published by

Qadir AK

May 6, 2024

Attorney John Deaton shared his perspective on the challenges faced while advocating against government overreach in cryptocurrency. Despite his commitment to principles of freedom and justice, he recounts the criticism he received, particularly from Bitcoin enthusiasts, for his involvement in assisting Ripple holders.

In acknowledging John Deaton’s contributions, Scott Melker expressed his disappointment, noting that it’s disheartening to witness pushback from Bitcoin enthusiasts for assisting Ripple holders. Scott firmly believes that John’s actions would have remained unchanged regardless of the asset involved, as he is committed to doing what’s right for those in need.

Instead of recognizing John’s success in uniting 75,000 individuals with a common cause and advocating for them, the criticism centered solely on the choice of cryptocurrency.

Deaton expressed his bewilderment, stating that he couldn’t comprehend the situation. He said government overreach is government overreach, regardless of the specific asset involved. Deaton recounted how, despite having a significant investment in Bitcoin, he was labeled as the “XRP attorney” when he filed the case to assist Ripple holders.

He found it troubling that Bitcoin maximalists would derogatorily refer to him as such, especially when the core issue was government overreach. Deaton argued that regardless of personal opinions on specific assets, libertarian principles should dictate the fight against government overreach. He lamented seeing some Bitcoin enthusiasts celebrate the SEC’s actions against Ripple early on, despite the broader implications for the crypto space.

Deaton highlighted the absurdity of considering assets purchased by individuals, such as his daughter, as illegal simply because they were unaware of the underlying company’s actions. He stressed that such actions should offend any libertarian or Bitcoin supporter, regardless of their stance on XRP or any other asset.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.