Lawyer Deaton Calls For Hinman And Clayton To Testify In XRP Lawsuit

Lawyer Deaton Calls For Hinman And Clayton To Testify In XRP Lawsuit

XRP lawyer John E. Deaton argues that the U.S. Securities and Exchange Commission made a mistake by bringing aiding and abetting charges against Ripple CEO Brad Garlinghouse. Testimony from former SEC officials Bill Hinman and Jay Clayton in the US SEC v. Ripple Labs would have classified XRP as a non-security in the first year of the proceedings itself, but the SEC purposely denied it for years.

Deaton Reacts To Whether Hinman And Clayton Should Testify

Digital Asset Investor said he would have called a16z attorney Lowell Ness and Chris Dixon as first witnesses along with former SEC officials Jay Clayton and Bill Hinman in the Ripple vs SEC lawsuit. Jay Clayton apparently put executives in charge of heading up what became the Ethereum Free Pass Speech.

“I have a feeling they could provide great material insight into the thinking at the SEC around crypto securities issues at the time.”

Pro-XRP lawyer John E. Deaton agreed that Hinman needs to testify. Also, there was no chance to subpoena a former SEC Chairman for a trial. However, he believes the SEC made a mistake by bringing charges against CEO Brad Garlinghouse. Especially, Jay Clayton wanted to file a complaint against executives personally in a “non-fraud” case.

He asserts Jay Clayton in fact is a significant witness and should testify in the court. Clayton met with Ripple’s CEO and CTO, where Brad Garlinghouse said “Ripple is living in purgatory” after the Hinman speech. However, neither Clayton nor Hinman responded that XRP was a security.

A clarification from Clayton and Hinman would have saved litigation costs and expenses, time wasted in proceedings, and increased crypto adoption. While SEC still seeks to turn the tables after a ruling by Judge Torres that XRP is not a security.

Read More: BTC, ETH Price Set For Next Bullish Wave?: On-Chain Data Shows

XRP Price Rebounds Again From Support

CoinGape Media earlier reported that XRP price risks falling to $0.42 if whales and traders didn’t accumulate from the $0.50 support. A whale transferred more than $20 million in XRP to exchanges as the price continued to break support levels.

XRP price jumped 2% in the last 24 hours, with the price currently trading at $0.52. The 24-hour low and high are $0.508 and $0.529. However, the trading volume has decreased in the past 24 hours.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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