John Deaton, an attorney who advocates for Ripple, has kept his promise to back Coinbase customers by asking to join as a “friend of the court” in their ongoing lawsuit against the SEC (Securities and Exchange Commission) in the U.S.
In a court filing made on April 19, 20XX, in the US District Court for the Southern District of New York, Deaton applied to join the ongoing case from June 2023 involving Coinbase and represent 4,701 of their customers as a friend of the court (amicus curiae).
“This court has allowed or granted me permission to represent cases in it, and I’m here on behalf of 4,701 Coinbase clients in this particular proceeding.”
In a podcast conversation with Eleanor Terrett from Fox Business on the 18th of April, Deaton expressed his reason for advocating for Coinbase clients as being the desire to shield ordinary people trying to amass some wealth in their daily lives.
He stressed that the issue at hand isn’t just about cryptocurrency, but rather about personal freedom and opportunities for growth. It’s not about getting rich quick or joining the crypto community, but rather helping people who are striving to improve their financial situation.
After the court rejected Coinbase’s request to throw out the entire lawsuit, the company quickly filed an interlocutory appeal in its legal battle with the SEC.
Paul Grewal, Coinbase’s chief legal officer, states that the focus of the interlocutory appeal hinges on the significant query: Does an investment contract include a necessary “contractual element”?
Over the past few years, Deaton has submitted numerous friend-of-the-court briefs on behalf of the cryptocurrency community.
In September 2023, he filed a brief expressing his support as an interested party in the LBRY vs SEC legal case.
In particular, Deaton made a significant move in 2021 by submitting an amicus brief supporting over 6,000 XRP (XRP) owners in the ongoing legal battle between the SEC and Ripple Labs.
Lately, Deaton has been actively pursuing a Senate seat, with the goal of replacing Senator Elizabeth Warren, who is known for her critical stance on cryptocurrencies.
In an article published on April 15, CryptoMoon announced that Deaton raised more money than Senator Warren during the first quarter of the year for his campaign to take her Senate seat. He gathered a total of $1.36 million in donations contrasting Warren’s $1.09 million.
Around a month ago, Deaton disclosed to his 324,100 followers on X that he personally invested half a million dollars in the Senate campaign.
However, he called on his followers to help raise an additional $500,000.
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2024-04-20 23:04