Ripple Lawyer John Deaton Denies Having Any Insider Information on Ripple Inc

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A crypto enthusiast on X misinterpreted John Deaton’s post and influenced the general mass into thinking that John Deaton had insider information on Ripple Inc. This is what John Deaton had to say to clarify the misconception spread through Michael Branch’s post on X.

 John Deaton is a famous advocate who doesn’t fear expressing his opinions. He’s also often believed to have in-depth knowledge of inside business happenings. Previously, Deaton revealed what many thought was a scoop: Ripple Labs would employ more workers from Dubai, Singapore, and London to strengthen its footprint in Asia and Europe. Michael Branch alleged that the knowledge concerning Ripple’s growth came from Deaton, who he claimed has inside information.

Denial of False Claims 

Deaton explained that he never said anything about having inside knowledge in reaction to the erroneous assertion. He explained that he had no inside information but was simply present as an audience at Mainnet. The same thing was stated by Gary Gensler publicly as well. 

Deaton further goes on to state that Ripple’s expansion plan suggests that it will also begin to operate outside of the United States. It had already stated that 80% of its hiring will be outside the States. 

The comments on the misinformer’s X post also sarcastically condemned him. One says, “International companies hire more staff… in international cities.” 

Garlinghouse told Bloomberg that “governments are partnering with the industry, and you’re seeing leadership, they’re providing clear rules, and you’re seeing growth” in Hong Kong, Singapore, the United Kingdom, and Dubai.

More about Ripple v SEC lawsuit – 

For over three years, the Securities and Exchange Commission (SEC) has been harassing the payment enterprise, arguing that its XRP coin is a security. On July 17th, the tables turned when Judge Analisa Torres declared that XRP is not a security. However, the SEC’ continues to argue, disrespecting the Court’s judgment, and believes XRP to be a security. 

Rather, the regulator wishes to file an interlocutory appeal in which an appellate court will re-examine Judge Torres’ ruling. The judge has approved the request, and community members are anxiously monitoring the developments. 

Recently, XRP’s lawyer accused the SEC of spreading misinformation and frauding people with its anti-legislative views. 

Click here to learn more about the SEC vs Ripple lawsuit.