According to an article, attorney John Deaton believes that Ripple could have avoided being sued by the Securities and Exchange Commission (SEC) if they had chosen the right law firm. Deaton highlights a deposition of former SEC Director William Hinman, suggesting potential conflicts of interest and collaboration between Clayton (former SEC Chairman) and his former law firm in representing ConsenSys. Deaton questions Hinman’s financial gains from the law firm after classifying Bitcoin and Ethereum as non-securities and his claim of being unaware of his firm’s membership in the Enterprise Ethereum Alliance. Deaton also comments on Clayton’s career move to One River, a firm that bet on BTC and ETH, and his enforcement action against Ripple despite warnings from former SEC commissioner Joe Grundfest.
AI Sentiment: Negative
