XRP Lawyer John Deaton Volunteers to Testify Before US Congress
XRP lawyer John Deaton took to platform X on Thursday and volunteered to testify in the forthcoming US Congress hearing on Capital Markets and Digital Assets, Financial Technology & Inclusion. The subcommittee hearing is scheduled to take place on January 10 and aims to discuss the impact of the regulatory changes by the Financial Stability Oversight Council (FSOC) on innovation.
John Deaton offers to represent retail token holders
Pro-XRP lawyer Deaton responded to the Financial Services GOP announcement by stating, “If you want someone to testify who represents the interests of token holders – not crypto companies…let me know.”
Deaton’s views have always been gazed at by market participants to understand the direction of the Ripple SEC lawsuit.
According to Deaton, SEC Commissioner Gary Gensler fails to protect investors while the agency and the Biden-Warren Administration are harming regular Americans.
Deaton critical of the administration
Deaton, who recently predicted a short squeeze in the crypto market, is known for his bold statements. In light of the upcoming SEC approval of the Spot Bitcoin ETF, token holders have been on their toes in anticipation of a positive response from the regulatory body. Deaton recently took to X to raise questions about Jamie Dimon’s credibility following the news of JPMorgan Chase’s involvement in BlackRock’s Bitcoin Spot ETF. He questioned his involvement, given Dimon’s history of criticizing cryptocurrencies.
Hence his post to represent token holders over big corporations is not surprising.
Deaton’s critical take on the SEC has gained a positive response from a community rooting to see an SEC overhaul.
XRP has gained in 24 hours
At the time of writing, the price of XRP is in the range of $0.56 and $0.58 on CoinGecko. It notes a 24-hour trading volume of approximately $1.72 billion. Over the last 24 hours, XRP has seen a 3.70% increase in its value, but it has declined by 6.60% over the past week.
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