In a recent social media post, John Deaton, a top crypto lawyer and the legal agent for XRP investors, revealed a startling discrepancy in his cryptocurrency holdings.
Deaton stressed in a series of honest articles that, despite his significant position in Ripple’s legal battle with the SEC, Bitcoin (BTC) is worth ten times more in his investment portfolio than XRP.
Deaton, who rose to fame for his outspoken support in the SEC’s litigation processes, clarified his commitment to Bitcoin. Reflecting on his legal proceedings against the regulatory organization, he stated that at the time he filed the complaint on behalf of XRP investors, his stakes in BTC were ten times bigger than his investment in XRP.
The seasoned lawyer further emphasized the critical point that caused his legal participation, claiming that if the SEC’s claims had been limited to Ripple, Brad Garlinghouse, and Chris Larsen, he would not have pursued the matter.
Instead, he slammed the regulator’s larger assertions, claiming that even individuals who bought XRP on the secondary market in locations where it was classified a non-security were implicated.
Deaton said that he boosted his XRP holdings after the SEC filed the complaint, presenting it as a vote of confidence in his own legal efforts and sympathy with the vast majority of XRP investors affected by the case.
I didn’t care about Ripple
In a recent article, the lawyer addressed Ripple’s contentious image in the cryptocurrency market, noting the company’s polarizing status.
Despite his apparent detachment from the crypto corporation, the lawyer stressed the significance of resisting government overreach, especially when it affects the whole crypto field.
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