Whale accumulation registered a sharp uptick in January. XRP’s weighted sentiment dipped to negative levels. Pro-Ripple lawyer John E Deaton dissociated himself from the XRP’s buyback proposal and denied accepting any money for his efforts in the two-year-long Ripple vs SEC lawsuit. He stated, “Unless I file an appearance as a defense counsel representing a […]
“Unless I file an appearance as a defense counsel representing a Company that is being sued by the SEC, my efforts will continue to be pro bono. I will NOT accept any money from any token holders related to my efforts.”
Deaton’s clarification came in response to the proposed terms of the buyback plan which mentioned making a payment to Deaton Law firm for its contribution to the SEC lawsuit over the status of XRP.The proposal was floated by Jimmy Vallee of Valhill Capital in 2021 who backed XRP to become the reserve currency of the world. Vallee stated that the global financial system would require a scalable digital asset in the future to address the problem of high national debts.
However, he added that for this to happen governments would have to hold a large number of XRPs which have to be purchased from retail holders.XRP buyback might be possible if the verdict in the SEC lawsuit comes in Ripple’s favor.Matt Hamilton, former director of developer relations at Ripple who has been a big critic of the buyback theory,In spite of the controversy around XRP buyback, small and large whales found a liking for XRP.
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