John Deaton, a lawyer in support of Ripple, has made optimistic predictions on Twitter regarding the outcome of the crypto industry’s push for regulatory clarity from the SEC.
Deaton has expressed support for Coinbase’s Writ of Mandamus and believes that the industry will emerge victorious in court.
He cites two reasons for his prediction: first, the SEC lacks legal justification, and second, their actions over the past six years have put them on the losing side.
Deaton also mentions that the SEC has seen a losing streak in the Supreme Court, with the most recent loss being in the SEC v. Cochran case. Along with other pro-Ripple lawyers like Jeremy Hogan, Deaton believes that the lack of evidence presented by the SEC and the majority of evidence supporting Ripple’s case (the case regards the XRP sales by Ripple) will lead to a favorable outcome for Ripple.
Despite this optimism, the crypto community remains on edge, awaiting the outcome of this crucial event.