John E Deaton, the Ripple advocate and crypto attorney sought comments from his 266.1k followers regarding the SEC-Ripple summary judgment and the charges supposed to be extracted from the exchange. As per the words of Deaton, Ripple would be billed a minimum of $250k for “multiple paralegals, associates, and partners” to review and verify the documents submitted for the summary judgment.
Earlier, on May 19, the attorney discussed the varied comments on the delay in the Ripple case’s settlement discussions, responding to the tweet of the former federal prosecutor James K.Filan, who shared the news of the joint letter filed for a one-week extension for the submission of the “voluminous” natured documents for the summary judgment.
Deaton opined that:
If the Hinman emails were going to lead to a settlement it would’ve been before they turned them over to Ripple. IMO, the SEC has accepted that the Hinman emails are eventually going to be made public.
After receiving a wide range of comments from the crypto community, Deaton put forward an open commenting session, where his followers could share their notions on the matter. He raised a relevant question asking whether his followers have an idea about the amount required to pay for the legal assistants who would cross-check the documents to make sure that they comply with Judge Analisa Torres’ conclusions.
Deaton shared his opinion regarding the matter, asserting that a minimum amount of $250k would be required:
Want to take a guess at how much 💰 Ripple will be billed for multiple paralegals, associates, and partners to review each document to make sure each redaction complies and satisfies Judge Torres’ decision? And then review the SEC’s submissions as well?
— John E Deaton (@JohnEDeaton1) May 19, 2023
I say $250K minimum.
In his previous tweet, Deaton appreciated the active nature of the crypto community, quoting:
As expected, a lot of smart people disagree with me and that’s what’s great about this community. At the end of the day, we’re all speculating. But sometimes, the most obvious answer is the correct one.
As expected, the community responded actively to his post. There were many followers who agreed with him on the amount of the bill. Some others pointed out that a more huge amount would be necessary to meet the expenses. It is interesting to note that there were some individuals who used the opportunity to criticize the authority and the law.
