John Deaton XRP Lawyer Slams Experts Who Blamed Binance for FTX Crash

This latest incident serves as a reminder of the remarkable influence and effect the legal experts have in directing the stories around crypto incidents and the significance of thorough investigations in such narratives.

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The crash of the FTX crypto exchange has always been a popular topic widely discussed, and it has caused many speculations within the industry.

That notwithstanding, the latest TV show, “60 Minutes” Revelation, led to controversies, causing various industry experts to express their frustration.

Quick Takes

• While many experts within the industry were already showing their frustrations regarding the show, the show expert fanned the flames of the fire by suggesting that Binance actions towards FTX caused its downfall.
• According to the statement of the 60 Minutes show expert, the FTX crypto exchange was doing great business then, someone cast aspersions on their business, which led to a run on their customer’s deposits, making them lose money.
• Of course, Ripple’s lawyer, Deaton, jumped into the fray immediately to challenge such alleged expert claims. Taking to his X social media platform, he shatters the expert for accusing Binance of causing the FTX crash.
• In addition, Deaton questions the intelligence quotients of the expert who claimed that Binance cast aspersions on FTX’s business, which resulted in a run on users’ funds and the subsequent collapse of the exchange.
• Responding to Deaton’s rebuttal, Changpeng Zhao, a well-known crypto-space personality, also reacted.
• The discussion between Zhao and Deaton explained the nuances and complexities involved in the collapse of FTX.
• Furthermore, they highlighted that the expert is oversimplifying the matter if they claim that Binance caused the FTX crash because it shows that they ignored the major factors that contributed to the collapse of FTX.
• The credibility of the alleged expert who disclosed such a claim during an episode of the popular 60 Minutes show should be questioned.

What’s Happening In Crypto Today?

At the time of this writing, Bitcoin is trading at $27,500.26, with a decline in market cap by 3.00% and an increase in trading volume by 7.91%.

Ethereum, on the other hand, is selling at $1,652.65, with a drop in market cap by 4.61% and an increase in trading volume by 7.85%.

• Meanwhile, the price of XRP right now is at $0.5089, with a drop in market cap by 2.63% and an increase in trading volume by 19.82%.
• USD Coin is selling at $0.9998, with a slight rise in market cap by 0.18% and a higher increase in trading volume by 22.74%.
• Solana is currently priced at $23.89, with a decline in market cap by 0.58% and a drop in trading volume by 1.67%.