XRP News: pro-crypto lawyer and former Massachusetts Senate candidate John Deaton unveiled his pick for the next US Securities and Exchange Commission Chair. The possible SEC Chair candidates are Brad Bondi, Paul Atkins, Dan Gallagher and Bob Stebbins. Notably, crypto-critic Gary Gensler hinted at resigning from the SEC Chair position as President-elect Donald Trump builds a pro-crypto administration.
Pro-XRP Lawyer John Deaton Backs Brad Bondi As US SEC Chair
John Deaton, the lawyer representing over 75K XRP holders, reveals Brand Bondi as his first choice to become the next US SEC Chairman. He has considered former SEC Enforcement Chief John Reed Stark and Fox Business journalist Eleanor Terrett’s insights on the list of contenders including Brad Bondi, Paul Atkins, Dan Gallagher and Bob Stebbins.
“The implication was that I believed BRAD BONDI to be the right choice. However, I did not come out at say it publicly because I needed to do my own research and not just rely on John Stark’s analysis.”
He believes SEC General Counsel Bob Stebbins is “not the answer” to what Donald Trump, Howard Lutnick, Vivek Ramaswamy and Elon Musk are seeking. Former SEC Chair Jay Clayton supports Stebbins, but he doesn’t fit in the crypto-friendly Trump administration. Stebbins signed off on the Ripple lawsuit, including suing Brad Garlinghouse and Chris Larsen.
Paul Atkins or Dan Gallagher’s Odds Of Replacing Gary Gensler
John Deaton adds that former SEC Commissioners Paul Atkins and Dan Gallagher “don’t represent real change.” Atkins’s nomination to replace SEC Chair Gary Gensler will be welcomed by Wall Street and the big banks only. But that’s not part of Trump’s agenda of making crypto a pillar of economic agenda.
As per John Reed Stark Gallagher and Atkins revere the SEC and will take a very cautious traditional approach. However, Donald Trump administration will not take a cautious traditional approach with government agencies. “The US SEC should be no different,” said Deaton.
XRP News: Brad Bondi Understands Crypto
Brad Bondi understands that DeFi falls out of the SEC’s jurisdiction and the importance of self-custody. John Deaton believes Gallagher and Atkins come close to Bondi, which is good news for the XRP community.
As per John Reed Stark, “Brad Bondi will transform the SEC from a vilified schoolyard bully into a respected, reflective and crypto-industry friendly institution — though he will be tough but fair.”
XRP lawyer asserts President Trump’s team needs to select the right SEC Chair for a new golden era for the crypto market. This may also trigger a further rally in XRP price as it jumped 100% in a week. The price of XRP is currently trading at $1.13.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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