John Deaton Lashes Out At SEC and Gensler, Calls For Elected Leaders To Pay Attention

The post John Deaton Lashes Out At SEC and Gensler, Calls For Elected Leaders To Pay Attention appeared first on Coinpedia Fintech News

Mark Cuban in a tweet earlier today shared that he spoke to the Harris team today who told him clearly that they are against “regulation through litigation”.  He further mentioned, “CYA Gensler. You leaving is worth a point in GDP growth.”

Anthony Scaramucci also shared a tweet saying “Gary Gensler please resign for the sake of the country(US).”

Crypto advocate John Deaton, in a recent X post featuring both the comments admitted that he has been fighting the SEC Chair Gary Gensler and the lawyers at SEC, who have followed his lead for almost 4 years now. 

John Deaton Cites Various Instances

He remarked, “Let’s not forget, a lifelong Democratic Judge, appointed by Barack Obama, agreed with ME and the 75K holders who joined me when I intervened in the Ripple case against the SEC. “In fact, Judge Torres cited my amicus brief and referenced my pro bono efforts in her summary judgment decision,” he added.

He also urged to take into account that a federal judge, overseeing discovery in the Ripple Case had issued a ruling that stated that the lawyers at the SEC were not only being hypocrites, but they “lacked faithful allegiance to the law.” 

Deaton Criticizes Senator Warren

He emphasized that it was a “direct quote” and that it should have caused the Senior Senator from Massachusetts, Elizabeth Warren who sits on the senate committee overseeing the SEC, to do her job and protect consumers from a rogue agency that lacked faithful allegiance to the law. 

He stressed that as a private citizen, he has conducted more oversight of the SEC, through litigation and FOIA requests, than Senator Warren has done while sitting on a committee that oversees the SEC. He also added he did all that work for free and at the expense of his own business.  

“Political Agendas”

He also mentioned the Grayscale case where an appellate court found that the SEC acted “arbitrary and capricious – a very difficult standard to meet.” He underscored that instead of honoring the law, Senator Warren encouraged Gensler to ignore the appellate court and deny a spot Bitcoin ETF as it would help her own political agenda. He also included that it appears Gensler is not the only one lacking faithful allegiance to the law. 

He also noted the Debt Box case where, a federal judge sanctioned the SEC for deliberately lying to the Court and acting as the corrupt, deceitful agency it has become under Gensler’s leadership. 

He shared “What’s truly sad is that Gensler has dishonored the countless number of good people working under him and who no doubt want to do the right thing.”

Lastly, he highlighted that when leaders like Scaramucci and Mark Cuban, who are actively advising Kamala Harris and her team, are speaking out against Gensler and how he’s hurting America and American entrepreneurs and consumers, then it’s time for the elected leaders to pay attention.