Claim $500XRP Lawyer John Deaton Representing Ex-Ethereum Advisor On ETH Gate?
The crypto market participants have in recent days began engaging in the debate around Ethereum Gate, which refers to the US Securities and Exchange Commission (SEC) allegedly giving preferential treatment to Ethereum Foundation. With XRP attorney John Deaton revealing that he had seen documents related to the alleged wrongdoings, it is being speculated that these developments mark just the beginning of a long drawn expose.
Also Read: OpenSea Reportedly Suffers Leak After Nansen Breach
Attorney Client Privilege: What It Means?
The talk around Ethereum Gate intensified as Steven Nerayoff, an early advisor at the Ethereum Foundation, said in a September 17, 2023 tweet that people at the Foundation were hiding the real number of ETH buyers during the cryptocurrency’s 2014 initial coin offering (ICO). Earlier, CoinGape reported XRP lawyer John Deaton’s revelation that he had seen some of the ‘receipts’ that may uncover truth about the ICO numbers.
While agreeing to have seen the records, the lawyer apparently indicated Ethereum when he said he was not able to reveal the names as he was bounded by attorney client privilege. This means Nerayoff entered into an engagement agreement with attorney Deaton. This could essentially mean Deaton representing the former ETH advisor in the court if required.
Fred Rispoli, another attorney, clarified that the attorney client privilege could mean huge implications coming ahead. He warned that the partnership could lead to massive implications with “Very big things to come.” Does this mean Nerayoff suing the Ethereum Foundation over framing of fraud charges?
XRP Lawsuit Impact
Attorney Deaton, is known for his views that the US SEC favored Ethereum while making Ripple (XRP) project a scapegoat with the enforcement actions. Hence, a potential lawsuit filing on behalf of Nerayoff could be in the making over the next few months.
Also Read: Is Terra Co-Founder Do Kwon Coming To US? SEC Files Motion In Court
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor’s “Green Dots” Message Hints At Fresh Bitcoin Buying As BTC Faces $90K Wall
- Fed’s Hammack Signals No Rush to Cut Rates as January Hold Odds Near 80%
- XRP ETFs Reach $1.21B as Asset Managers See a ‘Third Path’ Beyond Bitcoin
- Nearly $50M in USDT Stolen After Address Poisoning Scam Targets Crypto Trader Wallet
- Breaking: Rep. Max Miller Unveils Crypto Tax Bill, Includes De Minimis Rules for Stablecoins
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
