In recent days, crypto market participants have begun to weigh in on the debate surrounding Ethereum Gate, the U.S. Securities and Exchange Commission (SEC)’s alleged preferential treatment of the Ethereum Foundation. There is speculation that these developments are just the beginning of a long story of revelations, as XRP’s lawyer John Deaton revealed that he had seen documents related to the alleged fraud.
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Attorney-Client Privilege: What Does It Mean?
Stephen Nelayoff, an early advisor to the Ethereum Foundation, tweeted on September 17, 2023 that foundation officials hid the true number of ETH buyers during the cryptocurrency’s 2014 initial coin offering (ICO). As a result, the debate surrounding Ethereum Gate intensified. Previously, CoinGape reported on a revelation by XRP lawyer John Deaton that he had seen some of the “receipts” that could reveal the truth about the ICO numbers.
The lawyer agreed to see the records, but appeared to mention Ethereum when he said he could not reveal the name due to legal restrictions. attorney-client privilege. This means that Mr. Nereyoff has entered into an engagement agreement with Attorney Deaton. Essentially, this could mean Deaton representing former ETH advisors in court if necessary.
Another lawyer, Fred Rispoli, made it clear that attorney-client privilege could have a big impact going forward.he warned He said the partnership could have a huge impact on “very big things down the road.” Does this mean that Mr. Nereyov has filed a lawsuit against the Ethereum Foundation for fraud?
Impact of XRP litigation
Attorney Deaton is known for his view that the US SEC is supporting Ethereum while using the Ripple (XRP) project as a scapegoat for enforcement. Therefore, a potential lawsuit on behalf of Nereyov could be in the works for the next several months.
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