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XRP Holder’s Representative Explains Implications of Ripple Vs. SEC Lawyer Reportedly Leaves Case

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On hearing the news of the Ripple vs. Securities and Exchange Commission’s lawyer’s case withdrawal,  John Deaton, the legal representative and attorney of the XRP holder took to Twitter in jubilation.

However, it seems that his celebration came too early as just one lawyer withdrew from the case.

The latest update regarding the SEC case against Ripple Labs made John Deaton express his initial excitement through Twitter.

But then, it was later followed by a disappointing disclosure.

Deaton got an email filing which is related to the case which at first made him anxious.

However, his excitement was short-lived when what the email announced was that only one of the SEC’s lawyers withdrew from the case.

READ ALSO: $26 Million of Do Kwon Freezed By Swiss Prosecutors after His Prison Sentence

Does the Withdrawal Have Any Implications?

While Deaton is still struggling with his disappointment, he still rallied back immediately to clarify the implications of the announcement.

According to him, the fact that one of the SEC lawyers withdrew from the case has no meaningful significance in the raging legal battle between SEC and Ripple.

He further emphasized that the important thing to note is that the departure of the lawyer shouldn’t be misinterpreted as a sign that the case is concluded or that there is a huge change in the case.

As per Deaton’s statement, the lawyer’s withdrawal on its own didn’t change the course of the lawsuit.

As Deaton is seeking to handle any possible misinterpretations or concerns, Marc Fagel, a legal expert posted a related viewpoint regarding the case.

Fagel was once an attorney and Securities and Exchange Commission director in San Francisco.

He agreed with Deaton’s viewpoint while revealing that he, also felt the same excitement when he heard the latest update which was also short-lived.

As Fagel was asked about his views regarding the turnover happening within the Securities and Exchange Commission during the tenure of Chair Gensler, he rather provided more controversial insights.

Leveraging his observations and experience, Fagel said that, based on hearsay, the rate of turnover has risen.

He went further to forecast possible reasons for the hike. He even mentioned the dissatisfaction of the staff with Gensler’s leadership.

Meanwhile, the XRP community is waiting with bated breath for the court to make the Summary Judgment on the case as well as a favorable ruling on the case.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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