John Deaton Takes a Stand

Lawyer John Deaton, who’s not just any legal eagle but the go-to guy for numerous XRP tokenholders in the Ripple-SEC showdown, has made quite a splash recently. He formally submitted his notice of appearance as a friend of the court in the ongoing LBRY lawsuit. Now, who doesn’t love a good courtroom drama?

Associating with Influential Figures

According to documents filed on Sept. 14, 2023, in the United States Court of Appeals for the First Circuit, Deaton has aligned himself with Naomi Brockwell, the founder of Crypto Law. She’s on a mission to provide the crypto community with the latest legal news and updates. Talk about a dynamic duo!

Deaton’s Unyielding Spirit

Deaton took to X (formerly Twitter) to express his tenacity, stating, “Win, lose, or draw, we will be in the fight!” It seems like he’s ready to go toe-to-toe with any legal opponent that comes his way. The man wears his passion on his sleeve, and it shows!

The Legal Battles Ahead

For the uninitiated, this recent appearance comes against the backdrop of the SEC’s lawsuit against LBRY. Back in March 2021, the SEC claimed that LBRY sold its LBC tokens without registering them, which is a no-no in the eyes of Uncle Sam. Fast forward to July 11, when a judgment ordered LBRY to pay up a hefty civil penalty and prohibited them from engaging in any more unregistered crypto asset securities offerings.

Potential Ripple Effects

As if that were not enough, this LBRY case has profound implications for the XRP lawsuit. Although, in a surprising turn, U.S. District Judge Analisa Torres granted a summary judgment in favor of Ripple on July 14, 2023. She determined that selling XRP to retail buyers wasn’t a breach of securities law. Interesting times indeed!

Wrapping It Up

The crypto community watches closely as the legal waters continue to churn. Deaton’s involvement in the LBRY case adds more fuel to the fire, and with allies like Brockwell, it’s clear this isn’t just a one-man show. Stay tuned, folks, we’re in for a ride!