The number of XRP investors that have joined Ripple against the United States Securities and Exchange Commission (SEC) in the ongoing lawsuit is seeing a significant increase, according to attorney John Deaton.
A few weeks ago, the number was still standing at around 67,000, but the number of Ripple backers among XRP investors, who are legally showcasing their support, has spiked above 70,000. John Deaton said this in a tweet a few hours ago.
In the tweet, the attorney representing the teeming XRP holders, called out SEC chair Gary Gensler and the SEC Enforcement Director, reiterating his belief that the regulator will lose the war against Ripple and XRP.
John Deaton tweeted, “70,100 as of now. Gary Gensler & @SEC Enforcement Director over 70K #XRP Holders from diverse backgrounds from all 50 states, every U.S. territory, and 141 Countries around the [globe] have joined together to fight vs your unlawful expansion of Howey. You will lose the war.”
70,100 as of now. @GaryGensler & @SECEnfDirector over 70K #XRPHolders from diverse backgrounds from all 50 states, every U.S. territory, and 141 Countries around the 🌍 have joined together to fight 🆚 your unlawful expansion of Howey.
You will lose the war. https://t.co/FHr5HkUxOh
— John E Deaton (210K Followers Beware Imposters) (@JohnEDeaton1) August 8, 2022
SEC’s Move to Bar John Deaton from the Lawsuit Failed
In late July, Ripple, the San Francisco-based cross-border payment firm got a notable boost in the ongoing securities case against the SEC, after Judge Torres ruled that attorney John E. Deaton will continue to represent the interest of the teeming XRP investors in court.
On the 19th of July, the SEC filed a motion to request the prohibition of Deaton and XRP investors from further participation in the Ripple-SEC case.
According to the report, the Judge denied the commission’s motion to revoke amici status and bar Deaton from further proceedings. The news was treated within the XRP camp as a major sign that the legal tussle will end in favor of Ripple.
James K. Filan, who broke the news, wrote, “BREAKING: Judge Torres denies SEC’s Motion to Revoke amici status and bar @JohnEDeaton1 from further proceedings. Amici can’t participate in expert challenge now but may file application to brief concerns with SEC’s expert at summary judgment.”