XRP Attorney Reveals a Shocker: Is the SEC’s Ripple Lawsuit Hiding a Secret Agenda?

Crypto attorney and CryptoLaw founder, John Deaton, is questioning the true intent behind the SEC’s lawsuit against Ripple Labs. Known for his active presence on Twitter, Deaton has expressed concern and is urging the American public to seek clarity regarding the events that unfolded between former SEC Chair Jay Clayton and Gary Gensler in late 2020.

What insights were uncovered? Let’s dive in, shall we?

Suspicious Activities

Public records reveal that Clayton, during his final month as SEC Chairman, held two official meetings with Gensler. The timing of these meetings has garnered attention, as they occurred just days before the SEC filed a lawsuit against Ripple and its top executives, Brad Garlinghouse and Chris Larsen.

Deaton Speaks Out

In response to these events, Deaton has shed light on the peculiar nature of initiating such a significant case on the day the Chairman left his position. Referring to the Ripple lawsuit as the most notable non-fraud enforcement action since 1946, Deaton raises eyebrows regarding the circumstances. Adding to the intrigue, several high-ranking SEC officials, including the directors of Corporation Finance, Trading and Markets (T&M), and the Enforcement Division, departed from the commission around the same time.

What is your real motive for filing this case?

The collective departure of these top officials, aptly described as a “mass exodus” by former SEC Commissioner Prof. Joseph Grundfest, has inevitably sparked suspicions. Grundfest further raises concerns about the exercise of discretion within the commission.

Read More: Ripple News: John Deaton Backs Ripple Execs, Slams SEC For Being A “Bully”

Clayton Under the Spotlight

Interestingly, Deaton’s comments were in response to a tweet by Brian Costello, who reacted to a recent interview with Clayton. In the interview, Clayton expresses unease with the new aggressive enforcement strategy of U.S. regulators, which involves filing multiple lawsuits against crypto businesses.

Clayton highlights that this approach marks a fundamental shift from the traditional American view of the government’s role.

John Deaton- Knight in Shining Armor for the XRP Community

Continuing to provide insights on the SEC vs. Ripple lawsuit, Deaton has been conducting live broadcasts, delving into various aspects of the case. He aims to address misconceptions circulating within the crypto community, asserting that there is no “secret plot” behind the lawsuit and that everything related to the case is genuine.

Additionally, Deaton speculates that the case may potentially reach the Supreme Court, given the possibility of an appeal of Judge Torres’ summary judgment.