US attorney John E Deaton, who represents thousands of Ripple investors in the lawsuit against the US Securities and Exchange Commission (SEC), has criticized the agency's Chairman, Gary Gensler, for his negative approach to the cryptocurrency industry. Deaton claimed on Twitter that Gensler has "no clue" what security is and urged him to vacate his position. The SEC filed a lawsuit against Ripple in December 2020, accusing the company of selling XRP tokens as unregistered security offerings to retail investors. However, a court decision in mid-July determined that the sales did not constitute an offer of investment contracts, positively affecting XRP's price, which skyrocketed by over 70%.