Pro-XRP attorney John Deaton says that the United States Securities and Exchange Commission (SEC) erred in filing aiding and abetting allegations against Ripple’s CEO Brad Garlinghouse.
Deaton highlighted that testimony from former SEC officials Bill Hinman and Jay Clayton during the SEC vs. Ripple Labs case would have categorized XRP (XRP) as a non-security early on, but the agency deliberately disregarded this information for an extended period.
On X (formerly Twitter), user Digital Asset Investor.XRP said if it were his choice, he would have summoned a16z attorneys Lowell Ness and Chris Dixon as initial witnesses in the SEC vs. Ripple legal battle, along with former SEC officials Clayton and Hinman.
Deaton agreed that it was essential for Hinman to provide testimony but that there was no chance to legally summon a former SEC chair for a trial. Nevertheless, Deaton contends that the SEC erred in its decision to charge Garlinghouse, especially considering Clayton’s inclination to file a complaint against executives on a personal basis in a non-fraudulent context.
He maintains that Clayton holds substantial importance as a witness who should provide testimony in the courtroom. Notably, Clayton engaged with Ripple’s CEO and chief technology officer, during which Garlinghouse conveyed that “Ripple is living in purgatory” following the Hinman speech. However, neither Clayton nor Hinman explicitly stated that XRP was categorized as a security.
Obtaining clarification from Clayton and Hinman could have averted legal expenses and time consumption, potentially boosting cryptocurrency adoption. The SEC aims to reverse the decision even after Judge Analisa Torres ruled that XRP is not a security in certain instances.
Lucy Powell has accused Bridget Phillipson’s team of “throwing mud” and briefing against her in the Labour deputy leadership race in a special episode of Sky’s Electoral Dysfunction podcast.
With just days to go until the race is decided, Sky News’ political editor Beth Rigby spoke to the two leadership rivals about allegations of leaks, questions of party unity and their political vision.
Ms Powell told Electoral Dysfunction that through the course of the contest, she had “never leaked or briefed”.
But she said of negative stories about her in the media: “I think some of these things have also come from my opponent’s team as well. And I think they need calling out.
“We are two strong women standing in this contest. We’ve both got different things to bring to the job. I’m not going to get into the business of smearing and briefing against Bridget.
“Having us airing our dirty washing, throwing mud – both in this campaign or indeed after this if I get elected as deputy leader – that is not the game that I’m in.”
Ms Powell was responding to a “Labour source” who told the New Statesman last week:“Lucy was sacked from cabinet because she couldn’t be trusted not to brief or leak.”
Ms Powell said she had spoken directly to Ms Phillipson about allegations of briefings “a little bit”.
Image: Bridget Phillipson (l) and Lucy Powell (r) spoke to Sky News’ Beth Rigby in a special Electoral Dysfunction double-header. Pics: Reuters
Phillipson denies leaks
But asked separately if her team had briefed against Ms Powell, Ms Phillipson told Rigby: “Not to my knowledge.”
And Ms Phillipson said she had not spoken “directly” to her opponent about the claims of negative briefings, despite Ms Powell saying the pair had talked about it.
“I don’t know if there’s been any discussion between the teams,” she added.
On the race itself, the education secretary said it would be “destabilising” if Ms Powell is elected, as she is no longer in the cabinet.
“I think there is a risk that comes of airing too much disagreement in public at a time when we need to focus on taking the fight to our opponents.
“I know Lucy would reject that, but I think that is for me a key choice that members are facing.”
She added: “It’s about the principle of having that rule outside of government that risks being the problem. I think I’ll be able to get more done in government.”
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But Ms Powell, who was recently sacked by Sir Keir Starmer as leader of the Commons, said she could “provide a stronger, more independent voice”.
“The party is withering on the vine at the same time, and people have got big jobs in government to do.
“Politics is moving really, really fast. Government is very, very slow. And I think having a full-time political deputy leader right now is the political injection we need.”
The result of the contest will be announced on Saturday 25 October.
The deputy leader has the potential to be a powerful and influential figure as the link between members and the parliamentary Labour Party, and will have a key role in election campaigns. They can’t be sacked by Sir Keir as they have their own mandate.
The contest was triggered by the resignation of Angela Rayner following a row over her tax affairs. She was also the deputy prime minister but this position was filled by David Lammy in a wider cabinet reshuffle.