XRP Lawyer John Deaton’s Best Recommendation To Tackle SEC Chair Gary Gensler

Varinder Singh
November 11, 2023
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XRP Lawyer John Deaton's Best Recommendation To Tackle SEC Chair Gary Gensler

John Deaton, a lawyer representing 75,000 XRP holders, shares recommendations for the crypto community on tackling SEC Chair Gary Gensler’s egotism and hypocrisy.

After Gensler pumped FTT token more than 100% with a single comment about FTX, John Deaton said: If I were Ripple CEO Brad Garlinghouse, Binance CEO ‘CZ‘, Kraken’s co-founder Jesse Powell, Coinbase CLO Paul Grewal and CEO Brian Armstrong, or LBRY CEO Jeremy Kauffman— “I would be beside myself right now.

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XRP Lawyer John Deaton Slams Gary Gensler

Scott Melker, analyst and host of The Wolf Of All Streets podcast, said Gary Gensler pumped FTT token more than 100% with a comment on FTX by saying he is open to a rebooted FTX as long as it’s done “within the law.”

“No human being has manipulated the price of crypto assets more than the very ‘cop on the beat’ who is responsible for ‘protecting’ investors.”

John Deaton responded by saying “Every time you think Gary Gensler couldn’t go lower he does.” He recommends the crypto community stay resilient.

In addition, the crypto community awaits to see which one of Gary Gensler’s friends will be related to the “new and improved FTX.” He strongly believes Gary Genser’s money is at stake in FTX. He targeted Coinbase, Binance, Kraken, and others, while still trying to help FTX. “This is unbelievable.”

Meanwhile, John Deaton also asserts that Ripple will unlikely face the speculated $770 million disgorgement. Deaton remarks on the nature of On-Demand Liquidity (ODL) transactions involving XRP, which occur in seconds, further diminishing the likelihood of investor harm.

Also Read: FTX Sues ByBit to Recover Nearly $1 Billion Worth of Funds

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XRP Price Consolidates For Next Rally

XRP price fell 1% in the past 24 hours, with the price currently trading at $0.65. The 24-hour low and high are $0.643 and $0.664, respectively. Furthermore, the trading volume has decreased by 40% in the last 24 hours, indicating a decline in the interest of traders.

John Deaton said XRP witnessing profit booking after the price surpassed $0.70. Analysts predict XRP price is now consolidating for the upcoming rally.

Also Read: SC Dismisses Petition Seeking Regulations For Crypto Trading In India

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.