Will Uphold Be the Next Crypto Cinderella? Deaton’s Bold Prediction Names 11 Suitors
Oh, the drama! Could one of XRP’s most ardent admirers be about to get a grand proposal? Pro-Ripple lawyer John Deaton has dropped a tweet that’s got the crypto world buzzing like a cocktail party at the Ritz. It seems that crypto exchange Uphold might just be on the market, and if it is, it could be the most strategic acquisition since the invention of the martini.
In a recent tweet, Deaton hinted that Uphold could be about to find its prince charming. And who might these potential suitors be? Why, the crème de la crème of crypto and traditional finance, of course.
“I put on Uphold being acquired by a major player,” Deaton tweeted, with all the subtlety of a champagne cork popping at midnight.
He tagged a veritable who’s who of financial heavyweights: Coinbase, Kraken, Gemini, Robinhood, Binance, Ripple, and the TradFi titans JPMorgan, Goldman Sachs, Fidelity, Citi, and PayPal. Quite the guest list, wouldn’t you say?
But what makes Uphold such a sought-after gem in the crypto crown?
XRP: The Heart of Uphold’s Empire
Uphold isn’t just another crypto platform with a passing interest in XRP; it’s practically built on the stuff. According to the latest transparency report, XRP makes up a staggering 70% of Uphold’s total reserves, holding a cool $4.54 billion out of $6.61 billion. 🤑
The numbers get even more intriguing: Uphold has processed over 26 million XRP transactions, and just this week, it launched USDC support on the XRP Ledger, proving its unwavering commitment to the XRP ecosystem. With a fully-backed model boasting 100.6% reserves, it’s clear that this platform is not just a passing fad but a serious player in the XRP game.
A Strategic Shake-Up in the Making
Is Deaton just throwing darts in the dark? Not a chance, my dear. Uphold’s own CEO, Simon McLoughlin, has already confirmed that the exchange is exploring an IPO or a potential sale. The company has even brought on FT Partners to weigh its options, adding a touch of high-stakes intrigue to the proceedings.
While no official valuation has been disclosed, sources close to the matter suggest that the target could be north of $1.5 billion. That’s not hard to believe, considering Uphold’s revenue is expected to hit over $300 million in 2025, up from a mere $80 million in 2022, thanks to partnerships with firms like IG Group and a German bank. 🚀
The CEO’s XRP Obsession: A Potential Complication
There’s one little wrinkle that could complicate matters. McLoughlin is a massive XRP fan and a true believer in the XRPFi vision. His personal conviction could mean he’s unlikely to sell unless the buyer shares his vision or is willing to pay a premium that would make a Rockefeller blush.
Still, the interest is real, and the timing couldn’t be more perfect. XRP is gaining momentum, institutions are circling like vultures, and Uphold sits at the center of that growing demand. Whether it goes public or gets picked up, Uphold isn’t staying quiet for long. And if Deaton’s instincts are right, this could be a defining move in the next phase of XRP’s rise.
We’ll follow this story like a hawk and keep you updated – right here on Coinpedia! 🕊️
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2025-06-20 13:13