Lawyer John Deaton Says He Has 10x More Money in XRP Than BTC

Introduction to Key Industry Figures and Their Interactions

In a series of engaging discussions on the social media platform X (formerly Twitter), several prominent figures in the crypto space shared insights and opinions that shed light on personal investment strategies, legal battles, and the impact on the broader crypto industry.

Caitlin Long’s Praise for John Deaton’s Work

Caitlin Long, a respected Wall Street veteran and CEO of Custodia Bank, publicly commended John Deaton, a lawyer known for his advocacy of XRP. Long praised Deaton’s book “Food Stamp Warrior: A Memoir,” published by Brass Knuckle Books on 21 September 2023, during her appearance on the What Bitcoin Did (WBD) podcast. She recommended his book and acknowledged his significant achievements.

Matt Hamilton’s Perspective on WBD Host Peter McCormack’s Stance on XRP

Matt Hamilton, previously associated with Ripple and currently with Protocol Labs, commented on the WBD podcast’s apparent negative bias towards XRP. He suggested that host Peter McCormack should consider inviting John Deaton to the podcast, citing Caitlin Long’s admission of underestimating the Ripple case’s impact on the entire industry.

Deaton’s Gratitude and Long’s Response

Deaton expressed his gratitude to Caitlin Long for recognizing his influential role during a pivotal time in the crypto industry. Long responded by expressing her admiration for Deaton’s efforts in mobilizing 75,000 individuals to join as defendants against the SEC in the aforementioned lawsuit (against Ripple Labs and two of its most senior executives).

Deaton’s Investment Revelation

In a revealing statement, Deaton disclosed that, despite his reputation as a pro-XRP figure due to his support of the XRP community throughout the SEC’s lawsuit against Ripple, his personal investment in Bitcoin is significantly larger. Deaton stated that he has 10x more money invested in Bitcoin than in XRP.

Deaton’s Clarification on Ripple and Bitcoin Mining Controversy

Deaton further clarified his stance on Ripple and the broader crypto industry. He acknowledged the controversy surrounding Ripple co-founder Chris Larsen’s donation to Greenpeace, which targeted Bitcoin mining practices. Deaton emphasized that his actions in the Ripple case were not driven by support for Ripple but by a broader concern over the SEC’s conduct, which he deemed wrong and unconstitutional.

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