John Deaton said 75,000 XRP holders assisted Ripple in its legal battle with the U.S. Securities and Exchange Commission. The case concluded with a $125 million civil penalty, an injunction against Ripple, and the dismissal of appeals targeting executives Brad Garlinghouse and Chris Larsen.

Ripple had considered shutting down before opting for an expensive legal defense that preserved hundreds of jobs, according to statements by Garlinghouse and Deaton. Deaton, a crypto lawyer, filed an amicus brief on behalf of the holders, arguing that secondary‑market transactions should be treated differently from Ripple’s institutional sales.

The federal judge granted Deaton permission to participate, allowing holder testimony about purchase motives and usage that the court said saved the company millions in legal costs. The court ruled that programmatic XRP sales on public exchanges did not constitute securities transactions, while institutional sales violated federal securities law.

Deaton criticized the SEC’s request for personal financial records from Garlinghouse and Larsen, describing the subpoenas as an intimidation tactic and noting earlier rulings that had blocked broader information requests. He also referenced a separate case in which a Utah judge found misleading statements by SEC lawyers, a finding that did not affect the Ripple judgment.

The final judgment remains in force after both parties dismissed their appeals in August 2025. Deaton described the outcome as a win, though the legal record reflects a mixed result involving both favorable and adverse rulings.