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In a recent social media revelation, John Deaton, a leading crypto lawyer and legal representative for XRP holders, revealed a striking contrast in his crypto portfolio.
In a series of candid posts, Deaton highlighted that despite its prominent role in Ripple's legal battle against the SEC, Bitcoin (BTC) has an incredible ten times more value in his investment portfolio than XRP.
Deaton, who gained notoriety for his vocal advocacy in the SEC lawsuit, made it clear that he remains committed to Bitcoin. Reflecting on his legal action against the regulator, he highlighted that his positions in BTC were ten times larger than his investment in XRP when he initiated the lawsuit on behalf of XRP holders.
The veteran lawyer also highlighted the crucial factor that led to his legal intervention, claiming that if the SEC had limited its allegations solely to Ripple, Brad Garlinghouse and Chris Larsen, he would not have pursued the case.
Instead, he criticized the regulator's broader claims, claiming that even those who purchased XRP on the secondary market, i.e. in jurisdictions where XRP was not considered a security, were implicated.
Deaton revealed that he had increased his XRP holdings after the SEC filed the lawsuit, calling it a vote of confidence in his own legal efforts and solidarity with the multitude of XRP holders affected by the case.
“I didn’t care about Ripple”
In a subsequent post, the lawyer addressed Ripple's controversial reputation in the crypto industry and acknowledged the company's controversial position.
🙏 Caitlin. Peter may need to get over the “XRP lawyer” label that was given to me when I sued the SEC. 😂 Let's face it, Ripple was/is not the most popular company in the industry and Chris Larsen donates money to Greenpeace regarding Bitcoin Mining understandably upset many… pic.twitter.com/VB794g5pmb
— John E Deaton (@JohnEDeaton1) December 3, 2023
Despite his apparent distance from the crypto company, the lawyer stressed the importance of challenging government overreach, especially when it threatens the crypto space as a whole.
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