News View Non-AMP

Ripple’s John Deaton Rallies Thousands of Coinbase Customers in Battle Against SEC

Published by
Nidhi Kolhapur

Sparks are flying in the crypto world! Following a bombshell interview with the SEC and Coinbase, a new player has entered the ring. Fox Business journalist and XRP holders’ attorney, John E. Deaton, surprised everyone with a strategic move.

What is his plan, and how will it impact the ongoing battle between the SEC and Coinbase? Read on to find out

Deaton Steps In

Attorney John E. Deaton has filed for permission to represent 4,701 Coinbase customers in the SEC vs. Coinbase case. This move marks a significant development in the ongoing legal saga that’s been gripping the cryptocurrency world.

Facing a setback against the SEC, Coinbase didn’t back down. Instead, it filed for an interlocutory appeal, challenging a crucial legal aspect in its clash with the regulatory body. The aim? To bring clarity to the murky waters of digital asset regulation.

The Howey Test Issue

At the heart of Coinbase’s appeal lies the application of the Howey test to digital asset transactions. The exchange argues that this has led to confusion, blurring the lines between securities and non-securities in the crypto space. By raising this argument, Coinbase hopes to unravel the regulatory knots surrounding cryptocurrencies.

Also Read: Coinbase vs SEC: What if Coinbase’s Interlocutory Appeal Request Is Denied?

Will This Impact Ripple vs SEC?

The outcome of the Coinbase-SEC battle extends beyond their immediate skirmish. Ripple, embroiled in its own legal tussle with the SEC, closely watches Coinbase’s moves. If Coinbase succeeds in challenging the SEC’s stance, Ripple could gain a crucial legal advantage. Conversely, a win for the SEC could bolster its case against Ripple, shaping the destiny of the entire crypto space.

Read More: Is the Ripple vs SEC Lawsuit Holding XRP Price Back?

What do you think – is crypto’s future at stake?

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Norway’s NBX Joins Bitcoin Treasury Trend, Stock Jumps 138%

The Bitcoin tide continues to turn corporate heads, this time in Norway. As BTC hovers…

June 3, 2025

Fed Chair Powell Hints at Softer Monetary Policy, Bitcoin Back to $106K

The world’s largest cryptocurrency, Bitcoin, has jumped back to $106k today after dipping to some…

June 3, 2025

Fact Check: Will Ripple Sell $10 Billion Worth of XRP to Buy Circle?

Ripple Labs is allegedly considering buying Circle for billions of dollars. But how will Ripple…

June 3, 2025

Memecoins on the Move: WIF and PEPE A Must Buy Today?

Memecoins are making a buzz in the crypto market today, with bullish momentum sweeping across…

June 3, 2025

Can Future Pepe Finally End the Era of Meme Coin Rug Pulls and Scams?

We've all seen the devastating pattern—meme coins surge overnight, luring in enthusiastic investors, only to…

June 3, 2025

Altcoin Season is Coming? Data Says the Next Big Crypto Rally is Near!

It's been almost two weeks since Bitcoin hit an all-time high price. Meanwhile, the crypto…

June 3, 2025