John E. Deaton, an advocate of XRP and a crypto lawyer well-known for his criticism of the Securities and Exchange Commission (SEC), announced his interest to represent LBRY in the SEC’s legal action against it. After filing his notice of appearance in the lawsuit as an Amicus Curie, Deaton tweeted, “Win, lose, or draw, we will be in the fight!”
In 2021, the SEC charged the blockchain company LBRY with “conducting an unregistered offering of digital asset securities.” The firm was accused of marketing unregistered securities known as “LBRY Credits” to investors in the case filed by the regulators.
With the new filing on September 15, Deaton reaffirmed his commitment to the case. He will speak on behalf of Amicus Curiae Naomi Brockwell, the co-founder of Deaton’s CryptoLaw, according to the document. James K. Filan, a Ripple supporter and former federal prosecutor, announced Deaton’s move in the LBRY case on X (Twitter).
Following her revelations in support of LBRY in the litigation, Deaton and attorney Bill Gannon submitted a request in the court to file an amicus brief on behalf of Brockwell. She claimed that her YouTube and Odysee video material, as well as fan purchases, tips, and prizes, allowed her to collect LBRY’s LBC tokens. Also, she added that she hasn’t cashed out those tokens and continues to hold them.
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The Crypto Community Stance
The crypto community has been closely following Deaton’s participation in the legal battles between regulators and crypto businesses. This is largely because of his unwavering stance in the SEC-Ripple case. Some people were surprised when Deaton decided not to submit an amicus brief in support of Coinbase. He cited that his contribution was less important in SEC v. Coinbase, as it is a narrow legal issue.
