Imagine, if you will, John Deaton—a lawyer who probably spends his weekends debating if XRP is infinitely more interesting than your average soap opera—deciding to launch a verbal missile at Oregon’s Attorney General Dan Rayfield. This spectacle unfolds over the Coinbase lawsuit, which some say is less about law and more about who can spin the most convoluted crypto tale without nodding off.
The Clash of the Titans: Deaton vs. Rayfield
In a saga worthy of a Space Opera (minus the space, plus a lot of legal jargon), our hero John Deaton took to X (yes, the platform formerly known as something else) to roast Oregon AG Rayfield’s courtroom drama. Rayfield, it seems, is arguing in favor of claims that a rather distinguished judge—a Barack Obama appointee who apparently has better things to do than entertain déjà vu—already dismissed. Coinbase wryly calls it “resurrecting the dead,” which, let’s be honest, has a certain undead charm.
Deaton points out that Rayfield’s interpretation of securities law is as clear as a foggy London afternoon in an alleyway full of lawyers debating the Howey test, which is essentially a cryptic math problem disguised as law. The allegation? That Rayfield’s crusade might be less about investor protection and more about securing a spot on the political popularity scoreboard, which, rumor has it, is currently undergoing an identity crisis worse than a cat choosing between two equally uncomfortable boxes.
Oregon AG’s Grand Legal Thesis
A Legal Roast
Not to be outdone, Bill Morgan—another XRP lawyer with a penchant for dystopian sci-fi—dubbed the lawsuit “dystopian nonsense.” His two main points: first, Coinbase stopped listing XRP immediately when the SEC waved its magic “lawsuit” wand, and second, the judge in the original case marked XRP as a non-security, which in legal speak means, “Nope, doesn’t count.”
Meanwhile, Justin Salughter, the Vice President of Regulatory Affairs at Paradigm (which sounds like a Star Trek gadget but is actually way more down to earth), pointed out that Rayfield’s lawsuit reads like a remix or cover of the earlier SEC case from the Trump era, right down to the phrase “calculated business decisions.” Copy-pasting in law? Bold move, Oregon. Bold move.
So, as this curious tale unfolds, one can only wonder if Oregon’s AG is navigating the crypto jungle with a compass made of jelly. Whatever the outcome, it promises a courtroom drama with more twists than a bowl of spaghetti—napkin not included. 🍝⚖️
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2025-04-23 16:39