Attorney John Deaton, known for his outspoken support for digital asset holders, recently addressed a tweet from 'Build on Stellar' criticizing Ripple for its significant legal expenses.
Criticism of Ripple and John Deaton's Response
The tweet, which stated, 'Imagine spending more on lawyers than developers and calling it progress,' pointed to Ripple's ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). John Deaton responded by highlighting a contradiction in the situation, referring to a Ripple co-founder who distanced himself from the company while profiting from XRP sales.
Jed McCaleb’s XRP Sales Situation
McCaleb, who left Ripple in 2013 and later founded Stellar, has continued selling large amounts of XRP. His structured agreement with Ripple allowed him to sell his holdings gradually. The timing of these sales, particularly during the SEC lawsuit, has drawn criticism from the XRP community.
Ongoing Debate Within the Crypto Community
The exchange between Deaton and Build on Stellar sparked further discussion about McCaleb's accountability for his role in Ripple's history. One user questioned whether Build on Stellar was merely a neutral account or actively critiquing Ripple. Deaton pointed out the importance of transparency in such statements. The interaction highlights the ongoing divisions between Ripple and Stellar supporters and broader regulatory issues within the crypto industry.
The lawsuit against Ripple has significant implications for the digital asset industry, and discussions surrounding these issues continue. Debates about Ripple’s history and regulation remain a hot topic.
