Crypto blogger Ben “BitBoy” Armstrong on his participation in Ripple case on behalf of XRP holders
Ripple is gaining new backing in the ongoing litigation, as four more entities have requested to file amicus papers in the last 24 hours. Blogger and crypto influencer Ben Armstrong, popularly known as BitBoy, has expressed satisfaction with participating in a class action lawsuit filed by XRP holders against the Securities and Exchange Commission in the United States.
Ripple Gets Fresh Support, US Lawyer Warns of SEC’s Punch Back
🙏 As I’ve said, everyone plays a part in this thing we call #DecentralizedJustice. Ben’s playing his. He has a huge platform and he uses it to raise awareness and more. Behind the scenes when the camera’s not on, he’s trying to help educate lawmakers, etc. We all fight together.
— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) November 1, 2022
Remember that the case was started by pro-XRP lawyer and CryptoLaw founder John Deaton. Over 70,000 XRP holders have already signed up to participate, and the filing of the lawsuit permitted the testimony of this group of investors to be incorporated in the SEC v. Ripple case. According to Deaton, the assistance of a blogger with such a wide following is a massive help in achieving “decentralized justice,” as the lawyer refers to the fight against what he considers abusive activities by the regulator.
It is unknown whether BitBoy’s evidence was among the 3,000 affidavits from XRP holders, but the court would undoubtedly consider and study the perspectives of XRP aficionados. As a reminder, in addition to XRP holders and several Ripple partners, the Blockchain Association and Coinbase, one of the largest crypto exchanges, both desired to participate in the case by filing briefs with the court.
Ripple Enemy, Former SEC Chair, Now Supports It Inadvertently, Here’s How
Eleanor Terrett, a Fox Business journalist and producer, tweeted that Jay Clayton, the former SEC chairman who began the case against Ripple Labs, Brad Garlinghouse, and Chris Larsen, arguing that XRP is a security, now indirectly endorses Ripple. He does so by working for Electric Capital, one of the firms that decided to write an amicus brief supporting Ripple Labs. Clayton began working as an advisor for Electric Capital in August of this year.
Irony at its finest: Jay Clayton and Bill Hinman are now inadvertently supporting @Ripple through their associations with @ElectricCapital and @a16z which are both members of the @crypto_council.
“CCI thus represents the views of industry veterans…” 👇🏼https://t.co/hZXJsBBskT
— Eleanor Terrett (@EleanorTerrett) November 1, 2022
Dr. Bill Hinman, former director of the SEC, who delivered a speech in 2018 calling Ethereum a nonsecurity asset, joined the board of Andreessen Horowitz. This company and Electric Capital are both members of the Crypto Council. This entity was among the four who requested to file an amicus brief to support Ripple’s fintech firm over the past 24 hours.
Aside from the Crypto Council, these requests came from the Coinbase exchange, VC firm Valhil Capital and CryptoLaw founder John E. Deaton. Eleanor Terrett shared the irony of the situation, tweeting that Clayton and Hinman are now “inadvertently supporting” Ripple.
Read more:
- XRPL “CryptoPunks” Absorbing Millions Of XRP From Start Of Sales
- Ripple Fintech Giant Has Sent An Astounding Amount Of XRP To Be Locked In Escrow