John Deaton, a leading advocate for XRP holders, has doubled on his fight for fairness amid the SEC’s ongoing lawsuit against Ripple. Through public disclosures and extensive advocacy efforts, Deaton has demonstrated his commitment to challenging what he describes as regulatory overreach.
In a recent post on X, he clarified his financial interests and defended his motivations, emphasizing that his efforts extend far beyond personal gain.
Deaton disclosed that his XRP holdings were valued between $1-5 million as of August 2024. He also explained that he has more Bitcoin than XRP, which he has clarified multiple times.
While Deaton has invested a lot more in Bitcoin than in Ripple, he continues to defend XRP, pointing out that his argument is because of the fairness and justice of the cryptocurrency community.
Also Read: Ripple vs. SEC: A Legal Battle That Reshaped the Crypto Landscape
Addressing Criticism Over Financial Interests
Deaton faced criticism when a detractor accused him of being an “XRP grifter” for holding more Bitcoin than XRP while advocating for the XRP community. In a firm tone, he referred to the possibility of the public getting his financial returns, declaring, in detail, that he has been transparent.
All the documents have been submitted, including those of the U.S. Senate when contesting for a seat.
Deaton highlighted that his initial cryptocurrency portfolio included Ethereum three to four times more than XRP. However, after filing a lawsuit against the SEC, he significantly increased his XRP holdings to demonstrate his commitment to the fight.
Deaton also explained the effects of the SEC’s lawsuit on those who hold the XRP, saying that having invested $600,000 in XRP, his holdings were significantly reduced mainly because of the lawsuit filed by the SEC.
The loss of such a massive amount of money, together with his perceived unfair treatment of the XRP investors, made him feel that he was the right person to file the case on behalf of the community.
Broader Advocacy
Beyond legal advocacy, Deaton has been instrumental in fostering innovation within the XRP ecosystem. He confirmed a meeting in Canada with Jay SpendDBits to discuss Spend_The_Bits, a project leveraging XRP for payment solutions.
This initiative reflects his proactive approach to supporting projects that utilize blockchain technology to solve real-world problems.
Deaton also engages in broader discussions about cryptocurrency’s role in financial systems. He recently weighed in on the potential for the U.S. government to adopt Bitcoin as a Treasury Reserve Asset, citing its strategic value.
While he supports informed discourse on such topics, Deaton reiterated that his primary focus is ensuring justice for XRP holders and addressing the inequities caused by the SEC’s actions.
Conclusion
John E. Deaton’s crusade for justice in the SEC’s lawsuit against Ripple highlights his dedication to transparency and fairness. Despite personal financial losses and criticism, he has steadfastly advocated for the XRP community, combining legal expertise with a vision for innovation.
His ongoing efforts underscore the importance of accountability and integrity within the cryptocurrency regulatory landscape.
Also Read: Ripple’s Bold Move: Trump Inauguration Memo Sparks XRP Price Surge to $2.39
