The U.S. Securities and Exchange Commission\u2019s (SEC) arguments in its enforcement actions against crypto companies are irrational, and the ones presented in the Ripple lawsuit are no different. Judges have called the US SEC\u2019s claims \u201carbitrary and capricious\u201d in the Grayscale lawsuit and Judge Netburn in the Ripple lawsuit used the word \u201chypocrisy\u201d to describe the SEC\u2019s inconsistent positions.<\/p>\n
Deaton Highlights SEC \u201cHypocrisy\u201d Remarks<\/h2>\n
XRP lawyer John E. Deaton on September 2 said<\/a> the U.S. SEC hypocrisy is being noticed by the federal judges and both chambers of the U.S. Congress. He finds it interesting that Coinbase chief legal officer Paul Grewal uses the word \u201chypocrisy\u201d in his comments on Ripple filing opposition to the SEC\u2019s interlocutory appeal<\/a>.<\/p>\n <\/p>\n \u201cNothing but \u2018facts and circumstances\u2019 one day. Until it\u2019s all a \u2018pure question of law\u2019 the next. <\/span>@s_alderoty <\/span>and his team appropriately lay waste to this hypocrisy,\u201d said Paul Grewal. The SEC has incorrectly argues \u201cquestion of law\u201d requirement for interlocutory appeal and has fails to address the authority. Typically, courts have rejected the position.<\/p>\n Deaton also highlighted that Judge Sarah Netburn also used the same word in remarks on the SEC\u2019s inconsistent positions in the Ripple vs SEC lawsuit. In fact, judges in the Grayscale lawsuit called the SEC\u2019s actions \u201carbitrary and capricious.\u201d The SEC has failed to explain its reasoning behind rejecting Grayscale\u2019s Bitcoin ETF conversion.<\/p>\n No way IMO.<\/p>\n <\/p>\n \u2014 John E Deaton (@JohnEDeaton1) September 2, 2023<\/a><\/p>\n<\/blockquote>\n CoinGape Media earlier reported that Deaton and the Wolf of All Streets predicted the outcome of Coinbase and Binance lawsuits<\/a>. Deaton said the Coinbase lawsuit would ultimately be dismissed and the Binance lawsuit would end with a deal with the SEC.<\/p>\n Read More: Ripple Unlocks One Billion XRP, Why Is It Significant?<\/a><\/strong><\/p>\n <\/p>\n XRP price fell below the key support level of $0.50 but rebounded after Ripple filed opposition to the SEC\u2019s interlocutory appeal. Traders and whales are mostly skeptical about a quick recovery in XRP price amid Bitcoin ETF delay and September FUD.<\/p>\n Ripple has unlocked 1 billion XRP and locked 800 million, providing liquidity to the market. Enough XRP liquidity will propel prices toward $0.60<\/a>.<\/p>\n\n
XRP Prepares For Upside Momentum<\/h2>\n
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