John Deaton Debunks False Claim Regarding XRP, Cardano, and Solana
Renowned lawyer John Deaton, known for representing XRP holders, has recently refuted a claim circulating in the cryptocurrency community as false. The claim in question revolves around the purported roles of various crypto assets within the U.S. government, specifically mentioning XRP, Cardano (ADA), and Solana (SOL).
Setting the Record Straight on XRP and Cardano
In a recent post, Deaton clarified that the Securities and Exchange Commission (SEC) had not issued any statement regarding the roles of these cryptocurrencies. He took to Twitter to address the misinformation, stating, “EVERYONE: The @SECGov did not release any such thing.”
EVERYONE:
The @SECGov did not release any such thing. https://t.co/PbRoMZbe6A
— John E Deaton (@JohnEDeaton1) March 14, 2025
The dissemination of false information could potentially harm the reputation of these assets, prompting Deaton to set the record straight and caution users against believing misinformation.
Significance of Deaton’s Warning
Deaton’s warning serves as a reminder for XRP holders to exercise caution and verify information before acting upon it. With malicious actors potentially seeking to exploit false claims for personal gain, vigilance is crucial in safeguarding user funds.
In a previous statement, Deaton emphasized the importance of verifying information from credible sources to prevent falling victim to online scams.
Despite the misinformation, both XRP and Cardano have maintained their market positions. XRP is currently trading at $2.40, reflecting a 3.83% increase in the past 24 hours, while Cardano has seen a 3.74% rally to reach $0.7472.