John Deaton: LBRY Court Case Proves the SEC’s Insolvency
Legal expert and cryptocurrency advocate John Deaton has accused the SEC of overstepping and abusing its authority in the case of LBRY, which led to the blockchain company’s bankruptcy.
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Legal expert and cryptocurrency advocate John Deaton has accused the SEC of overstepping and abusing its authority in the case of LBRY, which led to the blockchain company's bankruptcy.
In his view, rather than tackling numerous fraudulent crypto projects, the commission chose to conspicuously pursue a small company with limited resources.
Deaton is also dissatisfied with the SEC's fine of $130,000, especially after LBRY spent millions on legal defense against unfounded claims and was forced to cease its operations.
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