Renowned attorney and staunch XRP advocate, John E. Deaton, who currently represents an impressive 75,000+ token holders in the ongoing Ripple Labs versus the U.S. Securities and Exchange Commission (SEC) lawsuit, has the crypto community on the edge of their seats. As the clock ticks down to his promised “big announcement” today, the speculative buzz intensifies, given the tantalizing hints he dropped on social media.
Responding to a nudge from prominent XRP supporter, Jungle Inc 2.0, Deaton unveiled three cryptic hints that serve as potential markers for today’s disclosure. These hints included a photo of Deaton deeply engrossed in scrutinizing some paperwork, references to the XRP Ledger, and mentions of the Ethereum (ETH) ICO. Deaton tweeted: “Only because my friend Jungle asked. Here are 3 hints: 1) the photo below; 2) the XRPL; 3) the ETH ICO.”
Prior to this, on Tuesday, September 19, Deaton took to Twitter, proclaiming, “If everything works out, I’ll have a BIG announcement this Friday (and no, I’m not suing anyone – yet)!”
As with any significant reveal, the community has been abuzz with anticipation and theories. Comments such as “Eth bros jump ship now!!! Eth gate about to blow!”, “I smell a lawsuit coming” and “subpoena power” have populated the discussion.
What Could The XRP Related Announcement Be About?
The photograph, though ambiguous, stirred speculations. Many within the community are leaning towards the idea that these unseen documents might be associated with the SEC v. Ripple lawsuit. Given Deaton’s pivotal role in this legal battle, where he’s acting in the capacity of Amicus Curiae, representing the token holders, any revelation concerning the case could have profound implications.
The second hint pointing towards the XRPL reminds us of the importance this decentralized public blockchain holds for the token’s functionality. Despite Deaton’s previous focus primarily on the legal aspects surrounding token and less on its technical prowess, today’s announcement might deviate from this norm, shedding light on new regulatory pushes for the XRPL.
Lastly, the nod to the Ethereum ICO hints at another layer of intrigue. Recent revelations by Steven Nerayoff, an early Ethereum adviser, about alleged corruption at the SEC during the ETH ICO phase, coupled with claims of Ethereum violating its ICO terms, have stirred the pot in crypto circles, as Bitcoinist reported. Deaton’s previous statements about having Nerayoff on his Crypto-Law TV segment further hint that today’s announcement might feature insights or an interview with Nerayoff that delve deeper into these allegations dubbed as “ETH Gate.”
At press time, XRP traded at $0.5097.
Featured image from Coinkolik, chart from TradingView.com