XRP Lawyer Calls SEC An “Innovation Killing Cesspool Of Corruption”

The lawsuit between the US SEC and Ripple is approaching its summary judgment. However, people linked with the case have been facing different kinds of allegations. XRP holders’ lawyer has come out to defend his links with Ripple and its executives.

XRP proving to be an alternative?

John Deaton, XRP holders’ lawyer in the Ripple lawsuit mentioned that he doesn’t argue with the people who say that Ripple helped to create a secondary market by giving the token to people. He added that he doesn’t challenge them as most of the projects have done the same.

Meanwhile, Bitcoin maximalist Michael Saylor’s recent comments misrepresented the facts and theory. Deaton mentioned that Saylor claimed that Ripple and its executives have committed fraud and the XRP lawsuit against them involves Fraud.

He stated that the media houses like Foxbussines have called him a ‘no Ripple fan boy”.

He added that even if he believes that XRP is a shitcoin or the technology is inferior. However, it has proven to be a better layer 2 solution to the Bitcoin problem.

SEC’s approach towards Ripple lawsuit

XRP lawyer stated that the SEC’s approach toward the crypto and presenting the Ripple lawsuit is absolutely appalling. He called the SEC truly become an innovation killing cesspool of corruption.

He pointed out that after a 30 month long investigation, the commission didn’t charge fraud or even misrepresentation against Ripple or any other executive.