according to the website - By CoinPedia News
Could one of the largest sponsors of XRP be acquired? A bold tweet from Ripple-supporting lawyer John Deaton fuels rumors that the cryptocurrency exchange Uphold could be acquired—and if it happens, it could be one of the most strategic deals in the XRP ecosystem.
In a recent tweet, Deaton suggested that Uphold could be bought by a major player. His list? It's a list of leaders in the cryptocurrency and traditional financial markets.
"I'm betting 💰 that Uphold will be acquired by a major player," Deaton wrote on Twitter.
He noted names such as Coinbase, Kraken, Gemini, Robinhood, Binance, Ripple, and TradFi giants JPMorgan, Goldman Sachs, Fidelity, Citi, and PayPal.
So what makes Uphold such a hot target?
XRP is the backbone of Uphold
Uphold isn't just another crypto platform offering XRP; it's built around it. According to the latest transparency report, XRP accounts for nearly 70% of Uphold's total reserves, holding $4.54 billion out of $6.61 billion.
The numbers get even more interesting: Uphold has processed over 26 million XRP transactions, and just this week it launched USDC support on the XRP Ledger, demonstrating its deep commitment to the XRP ecosystem. Add to that a fully backed model with 100.6% reserves, and it's clear that this platform is designed with XRP's utility in mind.
A strategic shake-up is already in motion
Is Deaton just shooting arrows in the dark? Well, no.
Uphold's CEO Simon McLaughlin recently confirmed that the exchange is exploring the possibility of an IPO or a potential sale. The company has engaged FT Partners to evaluate its options.
Although the valuation hasn't been officially disclosed, a source close to the matter says the target could exceed $1.5 billion. It's not hard to imagine—Uphold's revenue is expected to surpass $300 million in 2025, up from $80 million in 2022, thanks to partnerships with firms like IG Group and a German bank.
One big variable: the CEO's faith in XRP
There is one nuance that could complicate the buyout. McLaughlin is a big fan of XRP and a true supporter of the XRPFi vision. This personal belief may mean he is unlikely to sell unless the buyer shares his vision or is willing to pay a significant premium.
Nonetheless, the interest is real, and the timing couldn't be more perfect. XRP is gaining momentum, institutions are circling, and Uphold is at the center of this growing demand.
Whether it goes public or is bought, Uphold won't stay silent for long. And if Dieton's intuition is correct, this could be a pivotal step in the next phase of XRP's growth.
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