Deaton Drops Truth Bombs on LINQTO Case: August 6 Hearing Isn’t About Ripple’s $18M Drama!

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Hold onto your hats, folks! 🚨 Attorney John Deaton has just shared a juicy little tidbit on X (yep, formerly Twitter, for those living under a rock) about the LINQTO case that’s got the courtroom buzzing. 🎤 He’s basically asking the court to apply a “Constructive Trust” – sounds like a fancy term, right? It’s all about making sure no one gets their greedy hands on the cash that doesn’t belong to them. Gotta love fairness, huh? 🙄

What’s Happening in the LINQTO Case?

Now, brace yourselves! The big showdown on August 6? It’s all about moving the whole mess from Texas to Delaware. Why Delaware, you ask? Because apparently, Sapien Group (a fancy shareholder group) thinks the case will be better off there. Who knew states had such big egos? 🏛️

But wait-Deaton isn’t just sitting on his hands. Nope, he’s gone full-on superhero mode and filed a class action lawsuit against LINQTO’s founder, William Sarris. Why? Oh, just the small issue of them selling unlicensed securities in July without telling anyone! Classic case of “Oops, we didn’t mention that!” Thousands of unsuspecting users got a nasty surprise, and Deaton’s not having it. He’s out to get their money back, and honestly, who wouldn’t want that? 💸

Some of the rumor mill out there thought the August 6 hearing was all about Deaton’s objections to Ripple’s $18 million sale or the DIP loan. But guess what? False alarm! 🚨 Deaton himself cleared that up, saying that juicy gossip will be discussed on August 17. So, no, you don’t get to jump to conclusions just yet. 🧐

Deaton’s Support For Ripple

Meanwhile, Deaton’s not just picking fights with LINQTO. Oh no, he’s got his gloves on for Ripple Labs too! They’re locked in a bitter battle with the U.S. Securities and Exchange Commission (SEC), who apparently think Ripple made $1.3 billion by selling XRP as some kind of unregistered security. Sounds like something from a bad spy movie, right? 🕵️‍♂️

Deaton’s been out there filing legal briefs for Ripple like a man on a mission. He’s determined to defend XRP holders, and boy, he’s been at it for nearly five years. But hold your horses – there’s a big update coming when the SEC files their status report on August 15. What will it say? Stay tuned! 🍿

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2025-08-05 13:41