Thread by @JohnEDeaton1

Technically, it was 12,600 #XRPHolders who joined the motion to intervene (today the putative class is more than 75K).

But think about the motion to intervene:

Thousands of retail digital asset holders asked a Federal Judge to make them actual defendants in a case!

https://twitter.com/richardheartwin/status/1632222404196937728

Some people were like wtf is going on with this crazy ass motion to intervene. Many other people, especially lawyers, believed I was crazy for filing such an unusual and unlikely motion. I don’t blame them for thinking that b/c it was an unprecedented move.

Because the only time a motion to intervene in an SEC enforcement action was granted involved a spouse who wanted to protect her 50% interest in the marital assets that were in jeopardy.

I knew the Judge was very unlikely to name individual #XRPHolders or a class as defendants.

But the symbolism of thousands of holders asking for such an extraordinary thing spoke volumes of the public interest in this case. Although she would likely deny the motion to intervene she would likely grant amicus status b/c that was the result of other motions to intervene.

The point is the crypto industry must accept that the SEC waged a war 🆚 crypto when it attacked not only how a promoter sells a token but attacked the token itself - calling software code a security per se - no matter the seller or the circumstances surrounding the sale.

We must think out of the 📦 and organize. For example, all companies in active litigation w/the SEC, or about to be, should be meeting, sharing ideas, and developing coordinated strategies. Its a war.

I’d be happy to help. Maybe I can replace @elonmusk as the SEC’s most hated.