SENATOR LUMMIS @SenLummis IS 💯 ON 🎯 I represent (pro-bono) almost 4K thousand investors in the case of @linqtoinc - currently in Bankruptcy Court. Although Linqto doesn’t involve individual crypto tokens it does involve pre-IPO shares of Crypto Companies, including @Ripple, @krakenfx, @UpholdInc and others. Linqto is a fraud case, including deceptive marketing tactics, undisclosed excessive mark-ups, misleading, false advertising, etc. Investors believed they owned pre-IPO shares of companies. Linqto investors believed they owned the shares because they were told so. More importantly, investors were told, in writing, that the securities they owned were in fact “bankruptcy-proof” - because customer shares were segregated. Just as in FTX, Celsius and other cases, the VERY FIRST ISSUE in bankruptcy court is who owns the customer accounts (shares, tokens, cash, etc). The issue becomes was there segregation in fact, not just in name. Courts look at whether the funds were actually kept separate - not commingled with operating funds - regardless of what the account was called. This is the exact issue that sank customers in FTX and Celsius. The documentation said “custodial,” but the money was commingled and used, so courts treated it as ESTATE PROPERTY subject to the general unsecured creditor pool. In Linqto, I immediately filed a a motion in Bankruptcy Court asking the judge to impose a Constructive Trust - ruling that customers owned the shares and that they were held in trust. Although the Creditors Committee, Debtor (Linqto) and Deaton Represented Creditors have settled the issue, Customers have lost tens of millions of dollars related to their investments. I may work pro-bono but bankruptcy lawyers and other professionals (accountants, auditors, financial advisors, etc), do not. The median hourly fee for each professional is $1,200 per hour, with some charging as high as $2,500 per hour. In FTX alone, Sullivan & Cromwell billed for $360 million with $254 million approved by the Court. THe FTX bankruptcy estate paid lawyers and restructuring advisers nearly $1 BILLION in total fees and expenses, per the January 2026 post-confirmation report. WE NEED CLARITY!(John E Deaton)