XRP Lawyer Recalls Gary Gensler’s ‘Crypto Blueprint’ Interview
Crypto Market News: In the wake of statements that ‘the great accumulation of Bitcoin’ has started, traders have been digging the past about how the U.S. Securities and Exchange Commission (SEC) treated crypto native businesses. This comes after corporate bigwigs in the United States have suddenly shifted gears when it comes to taking the next big leap towards entering the digital assets market. Major financial companies like BlackRock, Invesco, Fidelity Investments, Wisdom Tree and Valkyrie Funds have in a series of events jumped into the crypto bandwagon.
Also Read: Crypto Participation Report On Fortune 100 Companies Will Shock You
These developments are undoubtedly bound to create long term ripple effects in crypto market, considering the massive reach these big players have in the mainstream financial world. For example, Blackrock alone managers assets of hundreds of companies across sectors and around the world.
The ‘Crypto Blueprint’
John Deaton, the attorney representing XRP Token holders in the Ripple Vs SEC lawsuit, recalled SEC Chair Gary Gensler’s old interview in which US investor Tim Draper speculated on what could be the possible blueprint to crypto adoption. Draper could be seen telling Gensler that the incumbents (banks) would initially sue crypto businesses, then exert media pressure and leverage government regulators to slow its progress before eventually adopting the space. Hence, Deaton indicated that Draper’s prediction draws parallel with the recent interest in crypto from the big corporations.
I'm sorry, but after watching, Blackrock, Fidelity, Citadel, Schwab and now Deutsche Bank, all apply for #Bitcoin ETFs, spot exchanges, etc. only a few days after the SEC drops a TRO on Binance and sues Coinbase… how can't you think this entire past year was a giant inside job…
— Preston Pysh (@PrestonPysh) June 20, 2023
A similar comment from popular crypto influencer Preston Pysh went viral, reaching as many as 2 million views.
Also Read: Elon Musk’s Tesla Has Special Dogecoin Page On Official Website
- Tom Lee’s Fundstrat Predicts Ethereum Rally to $5,500 Following ETH ‘Bottom’
- Is the Bitcoin Top In? Raoul Pal Signals Higher Liquidity Cycle Despite Market Selloff
- Expert Says XRP ETF Approval Is ‘Getting Close’ As Issuers File Amendments
- Hyperliquid DEX Outperforms Top Crypto Exchanges Coinbase, Binance, Robinhood With Zero Downtime
- Crypto Market Loses $670 Billion on CEX Auto Liquidations As Altcoins Crash Intensifies
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
