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Deaton Explains Why SEC Didn’t Include Former Ripple Founder Jed McCaleb in XRP Lawsuit

XRP community members have been questioning why Jed McCaleb, co-founder of Ripple, was not included in the ongoing SEC lawsuit against Ripple for allegedly offering unregistered securities in the form of XRP. Attorney John Deaton explained that McCaleb was exempted from the lawsuit because he is considered one of the industry players on "Crypto's Mount Rushmore" list, along with Bitcoin's pseudonymous founder Satoshi Nakamoto and Ethereum's Vitalik Buterin. Deaton added that McCaleb is also known as the "Teflon Don" of crypto. McCaleb received a share of 20 billion XRP in 2012, but left Ripple in 2014 due to a fallout with Ripple executives. He agreed to a lock-up plan for his XRP share to prevent a market crash.

(By LELE JIMA)

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