John Deaton, the founder of CryptoLaw and a pro-XRP lawyer has made a move to participate in the SEC’s lawsuits against Binance and Coinbase as an amicus curiae (friend of the court) to support users of both exchanges.
Contrary to claims from the SEC that it sued both Binance and Coinbase last week on behalf of digital asset investors, users, and holders, the top lawyer upholds that the U.S. SEC is not acting in the best interests of retail crypto holders, claiming that the Securities Commission has an agenda.
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Attorney Deaton wrote, “As I said to the Judge in the Ripple case, I expect Ripple to look out for Ripple and not individual XRP Holders. The same applies to Coinbase and Binance. But the SEC is not acting in the best interests of retail crypto holders and that is for sure. The SEC has an agenda.”
Hence, the move to become an amicus curiae in the lawsuits including Binance and Coinbase as he did in the ongoing XRP suit where the SEC insists Ripple violated securities law, contending that XRP is a security.
Accordingly, the popular U.S.-based attorney who doubles as the managing partner of the Deaton Law Firm has shared a Google form to collect data from Binance and Coinbase users who would like to be represented in the SEC lawsuits. Upon collection of sufficient users’ data, Deaton noted that he would file a request to the court, asking to be granted amicus status in both lawsuits.
He wrote, “As I did in the Ripple case, I have a Google form to establish a putative class of customers and crypto account holders who use these platforms. If there’s interest, we can ask to participate and possibly be granted amicus status in an effort to make sure our voices are heard.”
Deaton added that personal data provided on the Google form will be kept confidential unless demanded in court. “Your name and email will not be shared or provided to anyone – unless ordered by a Court,” he remarked.
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Notably, the top attorney reiterated that the aim of achieving amicus status is not to defend either Coinbase or Binance as he believes both companies would look out for themselves. “Just as I approached the Ripple case, I have no intention in defending these companies,” he tweeted.
The Coinbase and Binance lawsuits share some common themes and characteristics but, at the same time, are quite different. I am not conflating the two and I understand the differences. Just as I approached the Ripple case, I have no intention in defending these companies.
— John E Deaton (@JohnEDeaton1) June 9, 2023
According to him, the main objective is to make known in court that the SEC is not seeking to protect crypto users. “Again, this isn’t about whether Binance or Coinbase did anything wrong. They have lawyers to defend them. Some of us just don’t want the SEC gaslighting the Court that it’s protecting us,” Deaton submitted.
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