Pro-XRP Lawyer John Deaton: ‘Why Isn’t Everyone Bullish on XRP?’

Scott Melker hosted a recent interview featuring Andrew Parish from Arch Public, Eleanor Terrett from Crypto America, and Attorney John Deaton, as they discussed the latest shifts in crypto regulation and market trends. The spotlight was on SEC’s changing stance under new leadership, the approval of Bitcoin ETFs, and the growing institutional interest in crypto.

The Significance Of Hidden Road Acquisition

Deaton views Ripple’s acquisition of HiddenRoad as an important example of how traditional finance is blending with decentralized finance (DeFi). 

Ripple recently agreed to acquire Hidden Road, a prime brokerage firm, for $1.25 billion, marking a major move in the digital asset industry. Hidden Road, now approved by FINRA as a U.S. broker-dealer, allowing it to expand into areas like clearing and prime brokerage. 

This deal will help Ripple grow its presence in the financial industry and offer more services to big financial players. The deal is expected to close in the coming months, pending regulatory approval.

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Institutions Embrace DeFi, Bitcoin & XRP Stay Stable

He points out that institutions and banks, which once saw DeFi as a threat, are now figuring out how to take advantage of it. He also notes that Bitcoin and XRP stayed stable, even with issues like trade wars, thanks to growing institutional support

“There’s always risk, but I just don’t see how you can’t be bullish on several of these big tokens like XRP and BTC,” he said. 

They also discussed the rising institutional interest in digital assets, especially Bitcoin. The approval of Bitcoin ETFs was highlighted as a major milestone for crypto’s mainstream adoption. Deaton said that Bitcoin adoption by public companies has tripled, from 30 companies three years ago to 94 now.