So, let’s talk about John Deaton, shall we? This Massachusetts attorney has somehow managed to become a big deal in the crypto world. I mean, who knew lawyering could be so… exciting? He founded CryptoLaw, which is basically a treasure trove of legal documents for all those crypto cases that make you go, “Wait, what?”
Recently, our dear Deaton has been waving his arms around like a dramatic Shakespearean actor, warning us that meme coins—yes, those ridiculous TRUMP tokens that are popping up like weeds—might just ruin crypto’s reputation. Because, you know, nothing says “legitimacy” like a coin named after a former president. 🙄
Deaton: Meme Coins Are Like That Awkward Relative at Thanksgiving
In a riveting episode of the “Good Morning Crypto Show” (which, by the way, has more subscribers than my entire social circle), Deaton shared his thoughts on these meme coins. Spoiler alert: he’s not a fan.
When the host casually mentioned the TRUMP coin, Deaton was like, “Oh honey, please.”
“I’m excited like everybody else. We’ve witnessed an absolute war against crypto, not just unjust, but unlawful,” he said, probably while clutching his pearls. “But I have a concern— in this country, sometimes we have the tendency to go from one extreme to the other extreme.”
“So we’ve had this completely unfair war against crypto,” he continued, sounding like a character from a legal drama. “But that doesn’t mean we want a complete free-for-all where there are no rules of the road or regulations whatsoever because users, consumers, and customers get taken advantage of. So we want smart regulations.”
“We fought for survival. The last five years we have fought for crypto’s survival. But now we have to not just survive— we have to fight for our legitimacy,” Deaton added, probably while staring dramatically into the distance. “If this becomes just a casino-gambling technology in the view of the public… it’s one extreme to the other.”
XRP’s Price Up 44% on 30-Day Window: The Plot Thickens!
Meanwhile, in the thrilling saga of XRP, Deaton was busy throwing legal shade at the SEC during their little spat with Ripple Labs. He even took to X (formerly Twitter, because rebranding is all the rage) to battle the SEC’s definitions of crypto tokens like XRP. Talk about a digital gladiator!
Oh, and did I mention he ran against Sen. Elizabeth Warren? Yeah, that didn’t go so well for him in a state where she’s basically a rock star.
As for XRP, it’s been on a rollercoaster ride, gaining 1% to $3.23 after a little dip. But hey, it’s up 44% over the last 30 days! So, there’s that. 🎢
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2025-01-23 12:39