Ripple Backer John Deaton Condemns SEC Chair For Small Investor Damage

John Deaton, a prominent XRP advocate and candidate for the US Senate in Massachusetts, has once again voiced his staunch criticism of the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler.

Deaton accuses them of inflicting significant damage on small cryptocurrency investors, specifically targeting those who have invested in XRP. This latest salvo from Deaton underscores the growing friction between the cryptocurrency community and regulatory authorities in the United States.

Gensler Under Fire: Allegations And Controversies

Deaton’s criticism doesn’t stop at general accusations. He has publicly declared his “100% conviction” that Gensler and the SEC have caused more harm to small investors than any other entity in recent years.

One of the more explosive allegations Deaton brings to light involves Gensler’s undisclosed meetings with Sam Bankman-Fried, the former CEO of the now-defunct crypto exchange FTX. Deaton refers to Bankman-Fried as “the Bernie Madoff of crypto,” suggesting a deep-seated mistrust of Gensler’s intentions and actions.

As the person who literally sued the @SECGov on behalf of tens of thousands of small investors, I can state with Read More