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John Deaton, a lawyer and XRP supporter, believes that Gary Gensler, the current chairman of the Securities and Exchange Association (SEC), may cause the encryption sales market to collapse by another 50%.

Dieton said on Twitter that she first fabricated a lie six months ago, and Gensler may sue a large and medium-sized encryption trading center.

"Today, I firmly believe this, because it may lead to another 50% collapse. Later, the incumbents will occupy more market shares."

Dieton said that Gensler had been paying attention to crypto currency loans for two years, emphasizing that under the leadership of the SEC, the business scale of its law enforcement agencies' crypto assets and Internet units had basically doubled.

Deaton claims that SEC is the second largest creditor of BlockFi, an encryption lending platform, but the bankruptcy application actually shows that this regulatory agency is the fourth largest creditor of BlockFi. The SEC gave the enterprise an unsecured claim of $30 million.

Deaton said,

"This fact alone is enough to prove the intention. In self-examination, what registration requirements are implemented in the 100 million dollar BlockFi agreement? How does it improve field practice?"

This lawyer has demonstrated positive significance in the dispute mentioned by the Foreign Securities and Exchange Federation against Ripple, a tripartite payment platform in San Francisco, USA. Deaton means that XRP supporters submitted a amicus curiae newsletter to resist the simple ruling resolution proposed by regulators in this case.

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