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Crypto Lawyer Blasts SEC's "Far-Fetched" Arguments in Ripple Lawsuit, as Ripple CEO Reveals $200 Million Legal Defense Cost

Ripple Labs CEO Brad Garlinghouse has announced that the company will spend approximately $200 million on legal fees to defend itself against the SEC's lawsuit. However, John Deaton, a lawyer and crypto enthusiast, has criticized the lawsuit, describing it as "far-fetched" and lacking in merit. Deaton argues that the SEC has exaggerated its case and has failed to provide any legal authority or precedent to support its definition of XRP as a security. Despite mixed reactions to the news of Ripple's legal expenses, Garlinghouse expressed gratitude to the community for their support during the lawsuit.

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