Pro-XRP attorney John Deaton has reaffirmed his commitment to supporting clients of cryptocurrency exchange Coinbase by seeking to serve as an amicus curiae in the exchange’s legal dispute with the U.S. Securities and Exchange Commission (SEC). In an April 19 filing submitted to the U.S. District Court for the Southern District of New York, Deaton formally requested to appear as amicus counsel on behalf of 4,701 Coinbase customers involved in the ongoing litigation, scheduled to commence in June 2023.
Asserting his standing as an attorney admitted or otherwise authorized to practice law before the court, Deaton emphasized his representation of the aforementioned Coinbase customers. His filing underscores a broader commitment to safeguarding the interests of ordinary individuals seeking to accumulate wealth through cryptocurrency investments. In an April 18 podcast interview with Fox Business News reporter Eleanor Terrett, Deaton underscored his advocacy for those striving for financial security, distinguishing them from the stereotypical “crypto bros” solely focused on rapid wealth accumulation.
This development follows Coinbase’s decision to pursue an interlocutory appeal in its legal battle with the SEC, which came shortly after the court dismissed its motion to dismiss the entire lawsuit. Coinbase’s chief legal officer, Paul Grewal, highlighted that the interlocutory appeal revolves around the crucial “control issue” concerning whether the investment contract necessitated “contractual content.”
John Deaton has a history of filing amicus counsel requests in support of the cryptocurrency community, dating back several years. Notably, he filed an amicus brief in 2021 on behalf of over 6,000 XRP holders amidst the SEC’s lawsuit against Ripple Labs. Additionally, Deaton has sought to intervene in other crypto-related legal disputes, including the LBRY v. SEC case in September 2023.
In recent news, Deaton’s engagement extends beyond legal advocacy, as he announced his candidacy for a Senate position, aiming to unseat cryptocurrency skeptic Elizabeth Warren. Reports indicate that Deaton has made substantial financial contributions to his campaign, with notable donations made in the first quarter of the year. His endeavors underscore a multifaceted approach to advancing the interests of cryptocurrency enthusiasts and broader financial freedom.
