Could one of XRP’s biggest backers be getting scooped up? A bold tweet from pro-Ripple lawyer John Deaton is stirring speculation that crypto exchange Uphold could be acquired – and if that happens, it might be one of the most strategic deals in the XRP ecosystem yet.
In a recent tweet, Deaton suggested that Uphold could be bought by a major player. His list? It’s the who’s who of crypto and traditional finance powerhouses.
“I put 💰 on Uphold being acquired by a major player,” Deaton tweeted.
He tagged names like 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 listing XRP, but is built around it. According to the latest transparency report, XRP makes up 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, showing its deep commitment to the XRP ecosystem. Add to that a fully-backed model with 100.6% reserves, and it’s clear that this is a platform built with XRP utility in mind.
Strategic Shake-Up Already in Motion
Is this just Deaton shooting arrows in the dark? Well, no.
Uphold’s own CEO, Simon McLoughlin, recently confirmed the exchange is exploring an IPO or a potential sale. The company brought on FT Partners to weigh its options.
While no valuation has been officially disclosed, a source close to the matter says the target could go north of $1.5 billion. That’s not hard to imagine – Uphold’s revenue is expected to hit over $300 million in 2025, up from just $80 million in 2022, thanks to partnerships with firms like IG Group and a German bank.
One Big Variable: The CEO’s XRP Belief
There’s one twist that could complicate a buyout. McLoughlin is a massive XRP fan and a true believer in the XRPFi vision. That personal conviction could mean he’s unlikely to sell unless the buyer shares his vision or is willing to pay a steep premium.
Still, the interest is real and the timing couldn’t be more aligned. XRP is gaining momentum, institutions are circling, 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!
