'Every time I start thinking the SEC can't possibly do more to fail as an institution, it proves me naive,' Deaton said.
“Every time I start thinking the SEC can’t possibly do more to fail as an institution, it proves me naive,” Deaton said.
John E. Deaton – a US attorney who represents thousands of XRP investors in the lawsuit between Ripple and the SEC – criticized the agency for one of its latest moves. Specifically, the regulator opposed a reorganization plan presented by Coinbase, according to which customers of the now-bankrupt crypto lender Celsius Network could be reimbursed for their losses.The leading cryptocurrency exchange Coinbase recently
intentions to engage with the former crypto giant Celsius Network, aiming to distribute digital assets back to the latter’s users. However, the SEC raised concerns about a restructuring plan that will see the marketplace providing brokerage services.a lawsuit against Coinbase in June, accusing it of violating several laws and offering trading services with alleged unregistered securities, such as SOL, MATIC, ADA, and others.
John Deaton was among the people left baffled by the SEC’s decision to halt the collaboration between Coinbase and Celsius Network. He went further, maintaining that the regulator has become the “single greatest consistent threat to retail investors.”
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