John Deaton, a pro-XRP attorney, has highlighted two monumental events that have left a huge mark on the world of digital finance: Ripple’s recent legal victory and BlackRock’s plan to introduce a Bitcoin exchange-traded fund (ETF).
Deaton recently shared some insights on BlackRock’s CEO, Larry Fink, and his role in endorsing Bitcoin. In a tweet, he revealed Fink’s thoughts on Bitcoin’s global appeal from a CNBC interview.
Fink emphasized that BlackRock’s clients are increasingly seeking to invest in Bitcoin, recognizing its value on a global scale.
Deaton further underscores the significance of Larry Fink’s endorsement of Bitcoin. He believes that regulatory bodies such as the SEC and lawmakers can no longer dismiss crypto proponents as “fraudsters, scammers, hucksters, tax cheats, and money launderers,” a label that has been unfairly attached to the crypto community.
Also Read: BlackRock’s Bitcoin ETF IBTC Ticker Disappears: Is It Happening or Not?
Hopes are high!
Furthermore, the influence of BlackRock, a financial powerhouse, has fueled optimism regarding the approval of a Bitcoin spot ETF. This development represents a significant step toward legitimizing cryptocurrencies within the traditional financial landscape.
In a separate development, Ripple’s recent legal success against the SEC is a significant achievement for the entire cryptocurrency industry. Ripple successfully argued that the sale of XRP on exchanges should not be considered an investment contract, setting a precedent with far-reaching implications.
This victory also has implications for cryptocurrency exchanges like Binance and Coinbase, which are currently involved in similar securities cases.
Read More: Ripple vs. SEC: $770M Penalty in Question, but Is a Settlement in Sight?
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