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.
Donald Trump has reignited his row with London mayor Sir Sadiq Khan after calling him a “nasty person” who has done “a terrible job”.
During an hour-long news conference with Sir Keir Starmer in Scotland, the US president hit out at the Labour mayor, who has responded with his own snipey remarks.
Asked if he would visit London during his state visit in September, Mr Trump said: “I will, I’m not a fan of your mayor, I think he’s done a terrible job.
“A nasty person, I think.”
The prime minister then interrupted and said: “He’s a friend of mine.”
But the president added: “I think he’s done a terrible job but I will certainly visit London, I hope so.”
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Sir Sadiq’s spokesperson then released a statement saying: “Sadiq is delighted that President Trump wants to come to the greatest city in the world.
“He’d see how our diversity makes us stronger not weaker; richer, not poorer.
“Perhaps these are the reasons why a record number of Americans have applied for British citizenship under his presidency.”
Image: Sir Sadiq Khan was knighted in June. Pic: PA
They noted that Sir Sadiq has won three mayoral elections, including when Mr Trump lost the US election in 2020.
This is not the first time Mr Trump and Sir Sadiq have locked horns.
Sir Sadiq then described Mr Trump as a “poster boy for racists”.
And in November 2024, after Mr Trump won his second term, Sir Sadiq said many Londoners would be “fearful” about what it would “mean for democracy”.
However, as Sir Keir tried to show diplomacy with Mr Trump after becoming PM, Sir Sadiq said he “wanted to work closely with the American president” ahead of his inauguration in January.
The London mayor said as somebody “who believes in democracy, and voting and elections, we should recognise the fact that Donald Trump is the elected president of the United States”.
But he added: “Let’s keep our fingers crossed that this president is different from the last time he was president.”
The SEC delayed decisions on the Truth Social Bitcoin ETF and Grayscale’s Solana Trust, extending review periods as the US Congress moves with crypto regulation.
The US House of Representatives will be in recess for the month of August, but the Senate still has a week of business to address two crypto bills before breaking.