John Deaton, a vocal advocate for XRP and a candidate for U.S. Senate in Massachusetts, has sharply criticized U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. Deaton accuses Gensler and the SEC of significantly damaging small cryptocurrency investors, particularly those involved with XRP. He alleges that their regulatory actions have been more harmful to investors than any other entity in recent years.

Deaton closely monitors the ongoing legal battle between the SEC and Ripple Labs, the company behind XRP. In July 2023, a federal judge ruled that XRP transactions on secondary markets by Ripple do not constitute securities sales, a decision seen as favorable to Ripple.

Despite this, the SEC has continued its regulatory efforts against cryptocurrencies and platforms within the U.S. market. Gensler and the SEC have labeled many altcoins as unregistered securities, except for XRP to some extent, causing concern among investors in these assets.

Deaton also criticized Gensler for allegedly failing to disclose his personal meetings with Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, often referred to as "the Bernie Madoff of crypto." These undisclosed meetings have raised questions about potential conflicts of interest and regulatory bias.

Looking forward, Deaton and other advocates hope for a final resolution in favor of Ripple by September, which could potentially bring an end to the prolonged legal uncertainty surrounding XRP. Meanwhile, Gensler continues to emphasize the SEC's commitment to addressing noncompliance and investor protection within the cryptocurrency industry.

John Deaton's outspoken critique reflects broader concerns within the crypto community about regulatory clarity and fairness. As the legal and regulatory landscape evolves, stakeholders await further developments that could shape the future of XRP and the broader crypto market under SEC oversight.