The managing partner of the Deaton Law Firm, attorney John Deaton, has challenged anyone who believes that the Second Circuit would overturn Judge Torres’ decision in the SEC v. Ripple case to a debate. Securities lawyers informed Fox Business Senior Correspondent Charles Gasparino that Ripple’s victory would not stand up on appeal, to which Deaton responded.
For perspective, Gasparino revealed last week on Twitter that the majority of the securities attorneys he spoke with informed him that Ripple’s victory does not hold up on appeal. However, Gasparino avoided naming any specific individuals, leaving the XRP community to guess.
Related Reading: Ripple and Catalyze Research Forge Strategic Partnership to Drive XRPL Growth in South Korea
Deaton’s Reaction to Gasparino’s Twitter
Attorney Deaton responded by saying that instead of taking on Gasparino, he would concentrate on the anonymous securities lawyers who were making similar predictions. Deaton urged these securities lawyers to participate in a debate instead of whispering in people’s ears.
“My challenge is not to Charlie but to those lawyers. How about you come out of the shadows? Come on the record to Crypto-Law. Quit hiding behind the shield of off the record, and come talk,” Deaton urged.
The pro-XRP attorney stated that, so long as it is televised live, he is happy to meet with these securities lawyers anywhere. “We’ll have the debate. You want to call Judge Torres’ decision crazy and bizarre? Let’s talk about it. We know you won’t,” he continued.
The pro-XRP attorney has reaffirmed that Judge Torres’ decision won’t be overturned since she plainly applied the Howey test to all XRP transactions that the SEC claims to be securities.
SEC Top Appointments Have Nothing to Do with Experience and Knowledge of the Law
Furthermore, according to Deaton, political ties rather than experience are used to determine who gets appointed to SEC positions, particularly the chairmanship. “When you get picked to be the SEC Chair or Director of Corporation Finance, it is not because you’re the most experienced securities lawyer in the world. It’s because you [have] political connections,” he replied.
Deaton described how Jay Clayton was chosen as the SEC chair by former president Donald Trump because of the latter’s political ties. Deaton also emphasized Gary Gensler’s political connections, which contributed to his appointment as SEC chairman. Gensler served as Hilary Clinton’s campaign’s chief financial officer, according to Deaton, who also noted that he has strong ties to the Democratic party. Deaton claimed that Gensler was named SEC Chair because the Democratic party won the election.
Deaton noted, “[These appointments] have nothing to do with experience and knowledge of the law.”
The lawyer also recalls William Hinman saying that his acquaintance with Clayton led to his appointment as director of the SEC’s Corporation of Finance. To demonstrate how uninformed about the law most securities lawyers are, attorney Deaton shared Hinman’s deposition from the Ripple case. Hinman asserted during the deposition that it is not essential to meet every one of the Howey elements to establish an investment relationship.
“If Hinman was correct, why did Judge Torres say in footnote 13 [of the ruling that she] won’t get to the other two factors [of Howey test] because the third factor was not satisfied?” Deaton threw in.
Read Also: XRP Outperforms Other Altcoins; Becomes Most Traded
