- XRP enthusiast John E. Deaton slams SEC chair Gary Gensler over him targeting crypto firms.
- The attorney called Gary Gensler a bully, saying how the SEC Chair is disliked by everyone.
- John E. Deaton pointed fingers at Gary Gensler for favoring FTX founder Sam Bankman-Fried.
Prominent attorney and XRP enthusiast John E. Deaton bashed the Securities and Exchange Commission’s (SEC) chair, Gary Gensler, on the latter’s latest crackdown on global cryptocurrency exchanges Binance and Coinbase.
The attorney accused Gensler of colluding with Sam Bankman-Fried (SBF), the founder of the bankrupt cryptocurrency exchange FTX, and deliberately granting FTX a regulatory advantage while targeting Coinbase, an American exchange. Deaton showed his fury on Twitter, even calling Gensler a bully.
I’ve watched and fought bullies my entire life. Gensler is the quintessential bully. He’s the boy who didn’t get picked to play the first full-court basketball game so he took his [ball] and left.
The Pro-XRP attorney stated how he has talked to people who have been in the room with the SEC chair. Deaton alleged that Gensler insists on showing everyone he’s the smartest guy in the room.
The attorney further slammed Gensler, noting: the same child prodigy that became the youngest partner in Goldman Sachs’ history. He’s disliked by everyone.
This is not the first time John E. Deaton has publicly called out Gary Gensler and the SEC on their anti-crypto sentiments. Last month, Deaton slammed Bitcoin maximalists for backing Gary Gensler, as the SEC chair is putting pressure on multiple crypto firms.
Currently, Binance and Coinbase are at war against the SEC, as the regulatory agency sued both for violating security regulations and misleading investors, among multiple other charges. The move brought together the whole crypto community, who are now questioning the motives of the SEC chair.
According to a CNBC report, Binance now alleges that Gensler offered to serve as an advisor to the crypto exchange in several March 2019 conversations with Binance executives and CEO Changpeng Zhao (CZ). This revelation adds fire to the ongoing legal battle.
It is important to note that such allegations if proven true, could have high implications for the crypto regulatory landscape and raise concerns about potential conflicts of interest.
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