John Deaton Volunteers to Testify in US Congress Hearing
XRP lawyer John Deaton has offered to testify in the forthcoming US Congress hearing on Capital Markets and Digital Assets, Financial Technology & Inclusion. The hearing aims to discuss the impact of regulatory changes by the Financial Stability Oversight Council (FSOC) on innovation.
Deaton Represents Retail Token Holders
Responding to the announcement, Deaton stated that he could testify as someone who represents the interests of token holders, rather than crypto companies.
Deaton’s views have been closely watched by market participants for insights into the Ripple SEC lawsuit. According to him, SEC Commissioner Gary Gensler is failing to protect investors while harming regular Americans along with the Biden-Warren Administration.
Deaton Criticizes the Administration
Deaton, known for his bold statements, recently predicted a short squeeze in the crypto market. He questioned Jamie Dimon’s credibility following JPMorgan Chase’s involvement in BlackRock’s Bitcoin Spot ETF, given Dimon’s history of criticizing cryptocurrencies.
Hence, Deaton’s offer to represent token holders over big corporations is not surprising. His critical stance on the SEC has garnered support from a community hoping for an SEC overhaul.
XRP Price Increase in 24 Hours
The price of XRP is currently between $0.56 and $0.58 on CoinGecko, with a 24-hour trading volume of approximately $1.72 billion. Over the past 24 hours, XRP has seen a 3.70% increase in value, but it has declined by 6.60% over the past week.
Hot Take: John Deaton Offers to Testify in US Congress Hearing
XRP lawyer John Deaton has volunteered to testify in the upcoming US Congress hearing on Capital Markets and Digital Assets, Financial Technology & Inclusion. His offer to represent the interests of retail token holders rather than crypto companies showcases his dedication to protecting investors. Deaton’s criticism of SEC Commissioner Gary Gensler and the Biden-Warren Administration has gained traction among those hoping for regulatory changes. With the price of XRP experiencing fluctuations, Deaton’s involvement in the hearing could have implications for the future of the cryptocurrency. It remains to be seen how his testimony will shape the discussion on innovation and regulatory measures.
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