He pointed out that the fact that the SEC cleared Coinbase for its IPO more than two years ago and is backtracking on its support now is evidence that the market regulator is not acting in favor of the users of this platform.
Attorney Deaton said he also does not expect the two exchanges to defend their customers directly but to focus on their own products.
“As I said to the Judge in the Ripple case, I expect Ripple to look out for Ripple and not individual. The same applies to Coinbase and Binance. But the SEC is NOT acting in the best interests of retail crypto holders and that is for sure. The SEC has an agenda,” he said in his Twitter thread.
Over the past two years, John Deaton has made a name for himself as a major party in the Ripple case with his and representation of over 75,000 XRP holders.
This article was originally published on U.Today
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