XRP Lawyer Deaton Reveals Hints About Big Announcement This Week

John E. Deaton, the attorney representing over 75,000 XRP token holders in Ripple Labs vs the U.S. Securities and Exchange Commission (SEC) lawsuit, is set to make a big announcement on Friday. Deaton has revealed three hints about the big announcement that seems to be related to XRP Ledger and Ethereum (ETH) ICO.

John Deaton Hints At Big Announcement

Pro-XRP lawyer John Deaton revealed hints about Friday’s big announcement after his friend JungleincX asked him to give hints on the possible announcement. Deaton didn’t disappoint the XRP community and revealed three hints — a photo of himself reading some papers, the XRPL, and ETH ICO. It confirms that the big announcement is related to a crucial development in the U.S. SEC v. Ripple Labs lawsuit.

He is likely to have early Ethereum adviser Steven Nerayoff on CryptoLawTV to discuss shocking allegations he made about Ethereum’s initial coin offering (ICO) and corruption at the SEC. Steven Nerayoff has been attacking US authorities including the SEC recently, sparking excitement in the XRP community.

He will also discuss why XRP is not a security as Ripple didn’t conduct any ICO seeking to benefit from the money raised to expand the XRPL. It is managed by validators and not by Ripple. Also, there is no investment contract between an XRP buyer and Ripple to qualify for the Howey Test.

Also Read: Gary Gensler Hearing Before US Financial Committee

Ripple Executives Mock SEC

Ripple executives led by chief executive officer Brad Garlinghouse visited Washington D.C. to meet US Congress members over the proposed crypto bills. Garlinghouse and chief legal officer Stuart Alderoty shrugged outside the SEC building.

Ripple executives blasted the SEC and Chair Gary Gensler for completely denying the court’s orders and considering them above the law.

Meanwhile, XRP price trades at $0.50, down 1% in the last 24 hours and up 3% in a week.

Also Read: Bitcoin Options Data Shows Rise In Put Calls, Whale Holdings Drop