Strong Opportunities for Uphold in the Cryptocurrency World
Speculation about the potential acquisition of Uphold by major players
A bold tweet from Ripple advocate lawyer, John Deaton, sparked lively discussion about the potential merger of the cryptocurrency exchange Uphold. He mentioned that Uphold could be acquired by a major name in the industry. Potential candidates? A list of giants in traditional finance and cryptocurrency such as Coinbase, Kraken, Gemini, Robinhood, Binance, along with banks like JPMorgan, Goldman Sachs, Fidelity, Citi, and payment platform PayPal.
Why has Uphold become a top target?
XRP is the heart of Uphold
Uphold is not just an integrated XRP exchange; it is also building a platform based on this cryptocurrency. According to the most recent transparency report, XRP accounts for up to 70% of the platform's total reserves with a balance worth nearly $4.54 billion out of a total asset of approximately $6.61 billion. Notably, Uphold has processed over 26 million XRP transactions and recently integrated USDC on the XRP Ledger, demonstrating a deep commitment to the XRP ecosystem. The platform's reserve model ensures over 100% of assets, aligning with the goal of optimizing the utility of XRP.
The strategic move has begun
The acquisition deal could change industry strategy
Is this just Deaton's subjective prediction? Not necessarily. Uphold's CEO Simon McLoughlin recently confirmed that the company is considering going public or selling. The financial advisory unit FT Partners has been invited to help determine the appropriate direction. Although no official valuation has been set, insiders predict it could exceed $1.5 billion. Uphold's revenue is expected to surpass $300 million by 2025, a significant increase from the $80 million in 2022 thanks to new partnerships like IG Group and a German bank.
Key factor: The CEO's belief in XRP
The challenging topic: Is the CEO willing to sell?
A complex factor stems from the CEO himself, Simon McLoughlin. He is a passionate supporter of XRP and believes in the vision of XRPFi. This belief may make it difficult for him to sell shares unless someone proposes an attractive price or aligns with his concept of XRP.
The future of Uphold in the cryptocurrency industry
Whether it’s an IPO or a transfer, Uphold clearly isn’t missing any opportunity to grow or expand. XRP is increasingly attracting the attention of institutional investors, and with the central role of this platform, Uphold is poised for significant changes.
Conclusion: Is this the turning point for XRP?
If John Deaton's predictions are accurate, this could be a decisive turning point in the journey to elevate XRP to new heights. This story will continue, and we will update all the latest information – right here.
Source: https://tintucbitcoin.com/du-doan-mua-uphold-cua-john-deaton/
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