According to John Deaton, the SEC exploited Ripple’s transparency to target Brad Garlinghouse (bgarlinghouse)! Why does the $XRP lawyer claim that? Read more here -
John Deaton, a pro-Ripple lawyer representing thousands of XRP holders, believes the United States Securities and Exchange Commission strategically capitalized on Ripple’s commitment to transparency and used it to target the company and its CEO, Brad Garlinghouse.
The attorney shared his thoughts in response to a Twitter post by Delphi Labs’ general counsel Gabriel Shapiro about the use of Know Your Customer systems in the crypto space.According to Shapiro, large holders should be required to identify themselves and what percentage of the total supply of a project’s token they directly or indirectly possess or control, similar to the transparency requirements of 13D filings.
one of the few crypto KYC-ish things I agree with is the idea that very large token holders should have to identify themselves and what % of total supply they directly/indirectly own/control, like 13D-styleJuly 9, 2023 Deaton agreed with Shapiro, noting that such would only be possible in a sane regulatory environment. The XRP lawyer then blasted the SEC, highlighting how Ripple and Garlinghouse went above and beyond by implementing a cryptographic escrow and publishing quarterly XRP reports, which meticulously detailed all sales.
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