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Ripple Public Hearing: Attorney John Deaton Expresses Frustration

Thu, 04/27/2023 - 10:25
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Godfrey Benjamin
John Deaton part of current Ripple hearing, says it was frustrating
Ripple Public Hearing: Attorney John Deaton Expresses Frustration
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Pro-crypto attorney John Deaton has expressed his deep frustration with the latest hearing in the class action filed against blockchain payments firm Ripple Labs Inc by some aggrieved XRP coin holders. The court was magnanimous in allowing members of the public numbering up to 500 to attend the hearing via Zoom.

In the days leading up to the hearing, John Deaton and his digital currency law advocacy platform CryptoLaw educated members of the public on what to expect at the hearing. According to the updates shared, participation in the hearing will be limited to listening only - no video.

While Deaton noted that in the LBRY case, those who filed amicus briefs were allowed to contribute to the hearing, that was not the case here. While Deaton is yet to share details from the hearing, he did tweet saying he has "never been so frustrated in my legal career watching this zoom hearing."

The source of Deaton's frustration remains speculation, but it might be connected to the inability to lend his expert opinion in favor of the more than 75,000 XRP coin holders he is representing.

Ripple v. SEC: Here's What John Deaton Believes Will Happen If SEC Wins

More entanglements for Ripple

While the blockchain payments firm is still battling its case with the United States Securities and Exchange Commission (SEC), the current class action is creating more complicated entanglements for it at this time.

Plaintiff Bradley Sostak, who owned XRP for two weeks, is accusing Ripple of offering the digital currency as a security, and this, according to the community, has an undertone that does not aid the fight against the commission. While many community members have denounced the representation of Bradley he claimed, the ruling in the case may also have mild undertones for both the company and the industry at large.

Deaton continues to represent the interests of thousands of XRP holders and has asked the court to permit their representation in the ongoing case. His request has not been ruled on by the court.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.