Sign Up on MEXC
XRP lawyer John E. Deaton argues that the U.S. Securities and Exchange Commission made a mistake by bringing aiding and abetting charges against Ripple CEO Brad Garlinghouse. Testimony from former SEC officials Bill Hinman and Jay Clayton in the US SEC v. Ripple Labs would have classified XRP as a non-security in the first year of the proceedings itself, but the SEC purposely denied it for years.
Deaton Reacts To Whether Hinman And Clayton Should Testify
Digital Asset Investor said he would have called a16z attorney Lowell Ness and Chris Dixon as first witnesses along with former SEC officials Jay Clayton and Bill Hinman in the Ripple vs SEC lawsuit. Jay Clayton apparently put executives in charge of heading up what became the Ethereum Free Pass Speech.
“I have a feeling they could provide great material insight into the thinking at the SEC around crypto securities issues at the time.”
Pro-XRP lawyer John E. Deaton agreed that Hinman needs to testify. Also, there was no chance to subpoena a former SEC Chairman for a trial. However, he believes the SEC made a mistake by bringing charges against CEO Brad Garlinghouse. Especially, Jay Clayton wanted to file a complaint against executives personally in a “non-fraud” case.
He asserts Jay Clayton in fact is a significant witness and should testify in the court. Clayton met with Ripple’s CEO and CTO, where Brad Garlinghouse said “Ripple is living in purgatory” after the Hinman speech. However, neither Clayton nor Hinman responded that XRP was a security.
A clarification from Clayton and Hinman would have saved litigation costs and expenses, time wasted in proceedings, and increased crypto adoption. While SEC still seeks to turn the tables after a ruling by Judge Torres that XRP is not a security.
Read More: BTC, ETH Price Set For Next Bullish Wave?: On-Chain Data Shows
XRP Price Rebounds Again From Support
CoinGape Media earlier reported that XRP price risks falling to $0.42 if whales and traders didn’t accumulate from the $0.50 support. A whale transferred more than $20 million in XRP to exchanges as the price continued to break support levels.
XRP price jumped 2% in the last 24 hours, with the price currently trading at $0.52. The 24-hour low and high are $0.508 and $0.529. However, the trading volume has decreased in the past 24 hours.
Also Read:
- Hashdex Files Unique Spot Bitcoin ETF Application With US SEC
- Pepe Coin Team Gives Clarification Of The $16 Trillion Pepe Tokens Theft
- Terra (LUNA) And Terra Classic (LUNC) Impacted Amid Terra Money And Station Issues
- Bitcoin Treasuries Add Nearly $1B BTC This Week as Holdings Cross 1M BTC
- Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH
- Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure
- Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline
- World Liberty Financial Discloses Reason for Blacklisting 272 Wallets
- HBAR Price Forecast: Analyst Targets 123% Rally as ETF Approval Odds Hit 90%
- Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?
- XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025
- Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition
- Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut
