News View Non-AMP

XRP News: Deaton Pushes for Ripple Lawsuit Dismissal Amid Trump’s Meme Coin Release

Published by
Anjali Belgaumkar

US President-elect Donald Trump launch of his own cryptocurrency, $TRUMP, has created a storm in the crypto world, with its market capitalization soaring to several billion dollars in a short period. The meme coin was released just days before Trump’s inauguration as the 47th President of the United States. 

Trump’s $TRUMP Coin Launch Fuels Crypto Hype and Market Concerns

Critics have raised concerns that the timing of the release may be an attempt by Trump to cash in on his presidency. There is a growing concern that this move could fuel speculation, with investors rushing to capitalize on the hype before the value crashes.

In light of this, attorney John Deaton has weighed in on the broader state of the cryptocurrency market, particularly in relation to ongoing legal cases involving major crypto players like Ripple, Coinbase, Kraken, and LBRY. Deaton, who has been heavily involved in filing amicus briefs for users, developers, and investors, expressed frustration with the resources and energy spent on these cases over the past few years. 

He said that many of these legal battles—particularly the SEC’s case against Ripple—are non-fraud cases, meaning that the companies involved have not engaged in fraudulent activity, yet they have incurred massive legal expenses and losses.

Deaton further criticized the SEC’s approach, arguing that the regulatory body’s actions are politically motivated and harmful to American businesses and innovation. He said that Ripple has spent over $150 million in legal fees, and other companies like Coinbase and Kraken have similarly faced mounting legal costs. 

Despite their efforts to cooperate, these companies are still being targeted by regulators. Deaton stressed that if a new “Golden Age of Innovation” is indeed on the horizon, the SEC should dismiss these non-fraud cases in order to allow companies like Ripple, Coinbase, and others to thrive without the burden of legal battles.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Platinum Power Move: MTT Sports at the Heart of TOKEN2049 Dubai

MTT Sports, the pioneering Web3 sports competition platform, is set to make a bold statement…

May 9, 2025

Ethereum ETH Price Prediction 2025, 2026 – 2030: How High Will Ethereum Go?

Story Highlights The Ethereum price today is . ETH price with a potential surge could…

May 9, 2025

Top 10 PumpSwap APIs Every Solana Developer Should Know in 2025

The Solana ecosystem has seen a rapid rise in community-driven tokens, especially with platforms like…

May 9, 2025

Why Is Ethereum Price Going Up Today?

The crypto market is surging today with the majority of the coins gaining up to…

May 9, 2025

Why are Bitcoin, Ethereum, and XRP Prices Up Today?

After months of market silence, the crypto market is back in action. Bitcoin has jumped…

May 9, 2025

India-Pakistan Conflict Will Fuel Bitcoin Price, Says Russian Politician Anatoly Aksakov

Bitcoin Price is experiencing a major surge despite rising tensions between India and Pakistan following…

May 9, 2025