- Pro-XRP attorney John Deaton believes that the SEC made a mistake by accusing Ripple’s CEO Brad Garlinghouse of aiding and abetting.
- Deaton argues that the SEC ignored testimony from former SEC officials Bill Hinman and Jay Clayton, which would have classified XRP as a non-security.
- User Digital Asset Investor.XRP suggested summoning a16z attorneys Lowell Ness and Chris Dixon, along with Clayton and Hinman, as initial witnesses in the SEC vs. Ripple case.
Deaton acknowledges that it is not possible to legally summon a former SEC chair for a trial, but he believes it is crucial for Hinman to provide testimony.
Clayton’s interaction with Ripple’s CEO and CTO, during which Garlinghouse mentioned that “Ripple is living in purgatory” after Hinman’s speech, is deemed significant by Deaton.
- Obtaining clarification from Clayton and Hinman could have avoided legal expenses and time consumption, potentially fostering cryptocurrency adoption.
- The SEC aims to reverse the decision that ruled XRP is not a security in certain instances.
Recently, a large XRP whale moved over $20 million worth of tokens to exchanges as the price continued to decline.