All eyes on Uphold as Attorney John Deaton takes notice
New York-based exchange Uphold has caught the attention of Attorney John Deaton with its recent proof-of-reserves report. Uphold revealed that it holds an astonishing $1.71 billion in reserve assets, with $1.05 billion worth of XRP on its balance sheet. Deaton sees this as a sign of Uphold’s unwavering support for the XRP community, especially in light of Ripple’s legal battle with the SEC.
Uphold’s commitment to XRP sets it apart from other exchanges
While many major exchanges suspended XRP trading after the SEC’s lawsuit against Ripple, Uphold remained dedicated to the digital asset. Uphold even provided evidence in April of holding over 2 billion XRP in reserve. Uphold’s decision not to delist XRP has paid off, as it has derived significant trading revenues from the asset.
Exciting developments for XRP enthusiasts
Uphold has introduced two new services for XRP enthusiasts. Firstly, it has launched a customizable over-the-counter (OTC) trading platform, allowing users to engage in OTC trading for XRP and other cryptocurrencies. Secondly, Uphold has partnered with Xumm, a non-custodial wallet based on the XRP Ledger, enabling users to conveniently purchase XRP with debit or credit cards.
Uphold stands as a trusted partner for XRP enthusiasts
Uphold’s robust balance sheet and ongoing commitment to trading have solidified its reputation as a trusted exchange for the XRP community. It has shown unwavering support during challenging times, making it a go-to platform for XRP enthusiasts.
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