The post Ripple News: Uphold’s XRP Balance Sheet Impresses Attorney Deaton: “No Wonder They’re a Big XRP Fan” appeared first on Coinpedia Fintech News
Crypto space is again buzzing as one New York-based crypto exchange has captured the attention of Attorney John Deaton. Uphold, known for its commitment to supporting XRP, recently unveiled its proof-of-reserves (PoR) report, and Deaton was particularly intrigued by the exchange’s impressive XRP balance sheet.
How XRP Dominated the Uphold Balance Sheet?
In a shocking revelation, Uphold’s Head of Research, Dr. Martin Hiesboeck, shared the PoR, revealing that Uphold holds a staggering $1.71 billion in reserve assets. Additionally, the exchange has an obligation of $1.69 billion. However, what truly stood out to Deaton was Uphold’s substantial $1.05 billion worth of XRP on its balance sheet, with a corresponding obligation.
Deaton believes the reason could be Uphold’s remarkable XRP holdings offer insight into the exchan
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