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- Michael Novogratz praised John Deaton for his role in defending Ripple during its SEC lawsuit.
- Deaton faced criticism from Bitcoin advocates but stood firm on free market principles.
- The campaign gained support from 75,000 XRP holders across 143 countries.
Michael Novogratz, founder and CEO of Galaxy Digital, has underscored the vital role strong communities play in the long-term success of digital assets. In a recent interview, Novogratz praised the resilience of dedicated groups, noting how they can drive value and withstand external pressures.
Referring to the XRP community’s support during the Ripple vs SEC lawsuit, he said, “Where does this XRP Army even come from… I’m not even sure… It’s like they care about this when they went through that lawsuit.”
Novogratz also commended attorney John Deaton for his relentless advocacy, describing him as someone who “was literally tweeting nine times a day, fighting the case in court” on behalf of XRP holders.
Deaton Faces Backlash for Supporting Ripple
Responding to Novogratz’s comments, Deaton expressed appreciation but also revealed the criticism he endured for siding with Ripple. Despite holding more wealth in Bitcoin and Ethereum than in XRP, he supported the company’s fight against the SEC.
“A few Bitcoiners criticized me for helping a shitcoin,” Deaton shared, adding that some accused him of being a Ripple insider. He countered such remarks by pointing out that his commitment was not about personal holdings, but principle.
Mike @novogratz is spot on when he discusses the significance of a community within an ecosystem. The one thing I would add is that when I sued the SEC and intervened into the @Ripple case, I had 80% of my net worth in Bitcoin and, at that time, held 3X more in ETH than XRP.
— John E Deaton (@JohnEDeaton1) August 13, 2025
A… https://t.co/ybVha6dzIQ
A Stand for Free Markets and Investor Rights
Deaton’s motivation, he explained, came from a belief in free markets and the right for ordinary people to invest without excessive regulatory interference. “It is irrelevant whether you or I believe that token is the next big thing or exit liquidity for insiders. It’s called a free market,” he stated.
Also Read: XRP vs RLUSD – How Ripple’s Stablecoin Could Actually Boost XRP Demand
His campaign rallied massive grassroots support, with over 75,000 XRP holders from 143 countries joining the effort—an example of true decentralization in action.
The Novogratz-Deaton exchange underscores a central truth in crypto: community strength can be just as critical as technology or market performance. In the face of legal battles, grassroots unity can rally global support and defend the principles of decentralization and investor freedom.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
