{"id":253763,"date":"2022-08-09T16:48:33","date_gmt":"2022-08-09T15:48:33","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=253763"},"modified":"2022-08-11T04:15:39","modified_gmt":"2022-08-11T03:15:39","slug":"over-70k-ripple-holders-join-class-action-lawsuit-against-sec","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/over-70k-ripple-holders-join-class-action-lawsuit-against-sec\/","title":{"rendered":"Over 70k XRP holders join class action lawsuit against SEC"},"content":{"rendered":"<p>Over 70,000 Ripple (<a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP<\/a>) holders have joined John Deaton's class action lawsuit against the U.S. Securities and Exchange Commission (SEC).<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">70,100 as of now. <a href=\"https:\/\/twitter.com\/GaryGensler?ref_src=twsrc%5Etfw\">@GaryGensler<\/a> & <a href=\"https:\/\/twitter.com\/SECEnfDirector?ref_src=twsrc%5Etfw\">@SECEnfDirector<\/a> over 70K <a href=\"https:\/\/twitter.com\/hashtag\/XRPHolders?src=hash&ref_src=twsrc%5Etfw\">#XRPHolders<\/a> from diverse backgrounds from all 50 states, every U.S. territory, and 141 Countries around the \ud83c\udf0d have joined together to fight \ud83c\udd9a your unlawful expansion of Howey.<\/p>\n<p>You will lose the war. <a href=\"https:\/\/t.co\/FHr5HkUxOh\">https:\/\/t.co\/FHr5HkUxOh<\/a><\/p>\n<p>&mdash; John E Deaton (210K Followers Beware Imposters) (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1556460153410621441?ref_src=twsrc%5Etfw\">August 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Deaton, the SEC's decision to file a lawsuit against Ripple and its executives for violation of securities law has affected the value of XRP, thereby causing financial damage to the asset's investors.<\/p>\n<p>In his <a href=\"https:\/\/procoinnews.com\/heres-how-you-can-join-john-deatons-class-action-xrp-sec-lawsuit\/\">opinion<\/a>, the impact of the SEC lawsuit on XRP is enough to cause action against the commission.<\/p>\n<blockquote><p>\u201cIf the SEC really believes XRP is an unregistered security, why are they allowing the sale of the token during an ongoing lawsuit?\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This shows you the absurdity of the SEC\u2019s claims. The only reason Robinhood won\u2019t list XRP is the pending case. XLM was born from XRP. The Stellar Foundation admits it\u2019s sells XLM to operate w\/no other purpose. The same founder. XLM has to be a security if XRP is, but it\u2019s listed <a href=\"https:\/\/t.co\/41lseEQ1xr\">https:\/\/t.co\/41lseEQ1xr<\/a><\/p>\n<p>&mdash; John E Deaton (210K Followers Beware Imposters) (@JohnEDeaton1) <a href=\"https:\/\/twitter.com\/JohnEDeaton1\/status\/1556754289439264769?ref_src=twsrc%5Etfw\">August 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meanwhile, Deaton, in an August 8 tweet, said Stellar Lumens (XLM) should also be classified as a\u00a0<a href=\"https:\/\/cryptoslate.com\/us-congressman-questions-secs-lack-of-action-against-big-fish-exchanges-if-ripple-is-a-security\/\">security<\/a> according to the SEC's definition. According to him, &#8220;XLM was born from XRP,&#8221; and it has &#8220;the same founder.&#8221;<\/p>\n<h2>Update on Ripple vs. SEC<\/h2>\n<p>Meanwhile, the case between SEC and Ripple has continued and the commission has been accused of using &#8220;delay tactics.&#8221;<\/p>\n<p>Crypto attorney James Filan accused the SEC of wasting the court's time after the commission submitted a <span class=\"s4\">one-line response to the court<\/span> saying it takes no position on Ripple's request to reopen fact discovery.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&ref_src=twsrc%5Etfw\">#XRPCommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&ref_src=twsrc%5Etfw\">#SECGov<\/a> v. <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&ref_src=twsrc%5Etfw\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&ref_src=twsrc%5Etfw\">#XRP<\/a> The SEC has filed a one line response to the Ripple Defendants efforts to enforce Judge Netburn\u2019s ruling on authentication of videos of SEC officials\u2019 remarks. The SEC says it takes no position on Ripple\u2019s request to reopen fact discovery. <a href=\"https:\/\/t.co\/AXU0XDYhSi\">pic.twitter.com\/AXU0XDYhSi<\/a><\/p>\n<p>&mdash; James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea 108k (beware of imposters) (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1556801014082277381?ref_src=twsrc%5Etfw\">August 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ripple simply wants to authenticate 7 videos of SEC employees giving speeches and the SEC is messing around AGAIN with it (the SEC played games in responding originally last year).<\/p>\n<p>Authentication is standard stuff in litigation and should not be this difficult. <a href=\"https:\/\/t.co\/tUizICh18V\">https:\/\/t.co\/tUizICh18V<\/a> <a href=\"https:\/\/t.co\/KSVQNLpQ82\">pic.twitter.com\/KSVQNLpQ82<\/a><\/p>\n<p>&mdash; Jeremy Hogan (@attorneyjeremy1) <a href=\"https:\/\/twitter.com\/attorneyjeremy1\/status\/1554996815556116483?ref_src=twsrc%5Etfw\">August 4, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The judge had earlier ordered that the commission authenticate certain videos Ripple presented containing SEC officials' remarks.<\/p>\n<p>Ripple had requested permission to serve subpoenas to the platforms holding the videos. But the SEC misinterpreted this as a request to reopen discovery which it is not.<\/p>\n<p><span class=\"s4\">Filan said: <\/span><\/p>\n<blockquote><p>&#8220;The SEC\u2019s response is simply an abuse of the judicial process and a waste of the Court\u2019s time, as evidenced by the fact that the SEC waited five days to file a one sentence response in which the SEC then misconstrued Ripple\u2019s original request.\u201d<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The SEC\u2019s response is simply an abuse of the judicial process and a waste of the Court\u2019s time, as evidenced by the fact that the SEC waited five days to file a one sentence response in which the SEC then misconstrued Ripple\u2019s original request.  The original request is below. <a href=\"https:\/\/t.co\/xyUw93lv2Z\">pic.twitter.com\/xyUw93lv2Z<\/a><\/p>\n<p>&mdash; James K. Filan \ud83c\uddfa\ud83c\uddf8\ud83c\uddee\ud83c\uddea 108k (beware of imposters) (@FilanLaw) <a href=\"https:\/\/twitter.com\/FilanLaw\/status\/1556801021665595395?ref_src=twsrc%5Etfw\">August 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over 70,000 Ripple (XRP) holders have joined John Deaton&#8217;s class action lawsuit against the U.S. Securities and Exchange Commission (SEC). 70,100 as of now. @GaryGensler &#038; @SECEnfDirector over 70K #XRPHolders from diverse backgrounds from all 50 states, every U.S. territory, and 141 Countries around the \ud83c\udf0d have joined together to fight \ud83c\udd9a your unlawful expansion [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":253815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[77968,60793,11],"tags":[74979,77891,72399],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Over 70k XRP holders join class action lawsuit against SEC<\/title>\n<meta name=\"description\" content=\"Over 70,000 Ripple (XRP) holders have joined John Deaton\u2019s class action lawsuit against the Securities and Exchange Commission (SEC).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/over-70k-ripple-holders-join-class-action-lawsuit-against-sec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over 70k XRP holders join class action lawsuit against SEC\" \/>\n<meta property=\"og:description\" content=\"Over 70,000 Ripple (XRP) holders have joined John Deaton\u2019s class action lawsuit against the Securities and Exchange Commission (SEC).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/over-70k-ripple-holders-join-class-action-lawsuit-against-sec\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-09T15:48:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-11T03:15:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/08\/sec-ripple.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/over-70k-ripple-holders-join-class-action-lawsuit-against-sec\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/over-70k-ripple-holders-join-class-action-lawsuit-against-sec\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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