John Deaton Responds to Jim Cramer’s Claims About XRP
On 31 August 2023, attorney John Deaton criticized Jim Cramer’s statement that the public knows nothing about XRP. In a post, Deaton presented evidence to counter Cramer’s claims and questioned his integrity.
Main Key Points:
- John Deaton, a respected attorney, disputed Jim Cramer’s claim about XRP.
- Deaton highlighted that the U.S. Government Accountability Office (GAO) classified XRP as a virtual currency in 2014.
- The Department of Justice (DOJ) and FinCEN settled with Ripple in 2015, designating XRP as a convertible virtual currency.
- Deaton cited the Financial Stability Oversight Council’s (FSOC) 2019 annual report, which included XRP among growing virtual currencies.
- He mentioned that MoneyGram disclosed its use of XRP for cross-border payments in a filing with the SEC.
- Deaton pointed out that XRP is traded on over 200 global exchanges and recognized as a virtual currency by multiple countries.
Hot Take:
John Deaton’s response to Jim Cramer’s claims about XRP highlights the importance of accurate information and research. He presents evidence to counter Cramer’s statement, suggesting that it was either uninformed or deliberately misleading. Crypto readers should be cautious of misleading statements and seek reliable sources for information.
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