Thread by @JohnEDeaton1

Always remember our democracy is supposed to be a a government “by the people for the people.” I filed an action against the SEC because it and our governmental officials have forgotten who they represent. Yes

The SEC’s mission statement is to “protect investors, promote fairness and share information about companies…to help investors make informed decisions and invest with confidence.” As chairman of the SEC, it was Jay Clayton’s fiduciary duty to enforce the mission statement.

He failed miserably. Instead of protecting investors and sharing
information to help investors make informed decisions about XRP he knowingly and intentionally caused multi-billion-dollar losses to innocent investors.

Clayton was sent a letter from Joseph Grundfest, a former Fellow Republican SEC Chairman, appointed by Ronald Reagan warning Clayton and pleading with him that there was no emergency or immediate need to file a case against Ripple claiming Today’s XRP are securities.

Grundfest warned Clayton that NEVER before was there a case in which the SEC wasn’t alleging fraud or misrepresentation whereas just the filing of the action against a company would cause “unprecedented multi-billions in losses of innocent investors.”

He told Clayton since SEVEN years have went by with XRP actively being traded that there was no need to rush this case and the new incoming administration should be consulted, especially since Clayton resigned and was leaving and wouldn’t be around to see the case through.

But instead of listening and with improper motives Jay Clayton filed the most significant SEC case in modern history making the ridiculous claim that XRP held in the individual wallets of people with no connection to Ripple are securities. The next day, Clayton left the SEC.

The legal action I filed isn’t about defending Ripple. They have smarter lawyers than me to defend them. But if they collect a dime from Ripple it should go to the people that lost money due to the SEC’s actions and inactions for SEVEN years.