David Smith retweetledi
As many of you know, prior to running for U.S. Senate, I’ve been doing pro bono work in several securities cases involving blockchain technology and digital assets a/k/a cryptocurrencies.
First, I filed a Writ of Mandamus against the @SECGov. Shortly thereafter, and on behalf of tens of thousands of individual users, developers, and small investors, I filed a Motion to Intervene in @SECGov 🆚 @Ripple, regarding the digital asset #XRP.
Incredibly, 75 thousand regular people joined me.
In @SECGov 🆚 @LBRYcom, an American startup trying to compete with @Google’s @YouTube, I also served as amicus counsel on behalf of @naomibrockwell, a citizen journalist and other individual users of the #LBC token.
I filed an amicus brief in both cases and participated in oral argument in the LBRY case. I did this work without being paid because someone needed to stand up against the gross government overreach.
My claim of government overreach and misconduct by SEC lawyers was corroborated in the Ripple case by a federal judge who declared that @GaryGensler, @SECEnfDirector, as well as others at the SEC “lacked faithful allegiance to the law.” Later, those same people at the SEC would be described as “arbitrary and capricious” by an appellate court. A third federal judge, actually sanctioned the SEC for intentionally lying to the Court.
In the @Ripple case, Judge Torres, a lifelong Democratic Judge, recommended by @SenGillibrand and appointed by @BarackObama, not only agreed with my amicus brief when she ruled “#XRP itself is NOT a security” but also cited the nearly 4K affidavits I submitted in the case, as well as cited my efforts in the @LBRYcom case. I’m very proud of my work helping small investors and users of the technologies.
Also, prior to running for U.S. Senate, I agreed to represent @coinbase customers as potential amici curiae in the @SECGov 🆚 @coinbase case. Below👇 is a thread from June 2023 allowing Coinbase customers to sign up if they wanted to have their voices heard in Court. It is extremely important for end users of the technology to be represented and not allow a biased and politically motivated agency speak for them. But that doesn’t mean they want Coinbase to speak for them either.
The SEC has unlimited resources, paid for by the taxpayer, and Coinbase is a multibillion dollar company with the best lawyers money can buy. The consumers deserve an advocate and a voice as well.
Coinbase filed a request for permission to file an interlocutory appeal to the 2nd Circuit Court of Appeals in the hope of receiving regulatory clarity for the digital asset space.
As I detail in the 🧵 below, in 2021 the SEC approved the IPO for Coinbase to go public. Two years later, the SEC claimed Coinbase’s entire business model was and is illegal. @GaryGensler changed his mind because of a political agenda. And we all know which U.S. Senator is running her reelection on an anti-crypto platform.
Minutes ago, I filed an Amicus Brief on behalf of 4,701 Coinbase customers.
Those individuals deserve a voice and I will continue to be that voice. For the last 22 years, I’ve represented Mesothelioma victims against major corporations and Insurance companies. Before that, I served 7 years on active duty in the USMC as a Judge Advocate. Before that, I grew up in one of the most dangerous neighborhoods in America and escaped generational poverty. I’ve been fighting all my life for the little guy and the underdog and that won’t change when I get to the U.S. Senate.
John E Deaton@JohnEDeaton1
NOTICE: As everyone is aware, @GaryGensler and the @SECGov sued @coinbase and @binance @BinanceUS. Just like the @Ripple case, the SEC claims that it filed the lawsuits on behalf of digital asset investors, users and holders. The SEC claims it is protecting us.
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