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In a recent revelation on social media, John Deatona leading crypto lawyer and legal representative of XRP holders, has revealed a stark contrast in his crypto portfolio.
Through a series of candid messages, Deaton highlighted that despite his leading role in Ripple’s legal battle against the SEC, Bitcoin (BTC) holds 10 times more value in his investment portfolio than XRP.
Deaton, who became known for his vocal advocacy in legal proceedings against the SEC, made clear that his commitment to Bitcoin remains unwavering. Reflecting on his legal actions against the regulator, he pointed out that when he filed the lawsuit on behalf of XRP holders, his positions in BTC were ten times his investment in XRP.
The veteran lawyer also highlighted the crucial factor behind his legal intervention, saying that if the SEC had limited its allegations only to Ripple, Brad Garlinghouse and Chris Larsen, he would not have pursued the case.
Instead, he criticized the regulator’s broader claims, alleging that even those who acquired XRP on the secondary market, in jurisdictions where XRP was not considered a security, were involved.
Deaton revealed that he increased his XRP holdings after the SEC filed a lawsuit, presenting it as a vote of confidence in his own legal efforts and solidarity with the multitude of XRP holders affected by the case .
“I didn’t care about Ripple”
In a subsequent post, the lawyer addressed Ripple’s controversial reputation within the crypto industry, acknowledging the company’s divisive stance.
Despite his apparent distance from the crypto company, the lawyer stressed the importance of challenging government excesses, especially when they threaten the crypto space as a whole.