Thread by @JohnEDeaton1

#XRPHolders:

I have more than a few DMs from people asking whether it’s possible that if we are successful in a motion to intervene and then lose the underlying case if sanctions would be ordered against #XRPHolders.

First, there are currently 6 named proposed intervenors.

I have alleged, along with those 6 named intervenors “and all others similarly situated.”

The 17,000sh people that have signed up to join are not officially in the case. The 6 named intervenors are not yet in the case for that matter. I have informed the Court that I represent a

putative class of 12k plus (it has grown since then). If we win the motion to intervene then that doesn’t mean everyone that signed up is a defendant in the case. In order to be a defendant in the case the judge would have to certify a class (ie “class action”). Before she did

that, people would have an opportunity to choose to be in the class or not. You would have the choice.

Regarding Sanctions: sanctions are only ordered by the judge - NOT the SEC.

Unfortunately, some people are now under the impression that the SEC can punish them and issue

sanctions against them for signing up. This is NOT TRUE.

A judge would only be considering sanctions if the SEC asked for sanctions against #XRPHolders. The SEC would have to publicly ask for sanctions against the retail investors they are sworn to protect. Not sure Gensler

wants that publicity. But even if the SEC hypothetically wanted to ask for something so absurd, Only the judge could order sanctions against anyone.

Ask yourself this question: Do you really think a judge is going to order sanctions against #XRPHolders? Why?

Because we asked

to intervene to protect our interests? That would mean that in this case the judge says “yes, I agree with you and I will allow you to intervene to protect your interests” but then later turns around and issues sanctions against the same people that she agreed had a right to

intervene in the first place.

As of right now, the SEC isn’t asking for sanctions against Ripple, let alone retail holders of #XRP. The SEC is seeking the disgorgement of the gains realized by Ripple and the two executives and pay civil penalties under section 20(d) which

applies to control persons, and prohibit Ripple, Brad and Chris from offering digital asset securities in the future.

I hope this explains things for people. Please know that if you have submitted your name but now wish to be removed for any reason that is perfectly ok. Jd