SEC Charges Major Crypto Exchanges: Banks Eye Crypto Market
• Pro-XRP lawyer John Deaton says the SEC will hammer down the crypto market until big banks can swoop in and control it.
• The SEC recently brought charges against Coinbase and Binance, signaling an anti-crypto agenda.
• Deaton predicts a regulatory framework will be drawn up once large financial institutions acquire parts of the crypto industry.
Pro-XRP Lawyer’s Prediction
Pro-XRP lawyer John Deaton believes that after the U.S. Securities and Exchange Commission (SEC) hammers down on the cryptocurrency market, banking giants like JPMorgan and Goldman Sachs will swoop in to acquire vast pieces of it. He further states that once these institutions have acquired their piece of the pie, US officials will conveniently draw up a regulatory framework for the industry.
SEC Brings Charges Against Major Crypto Exchanges
Last week, the SEC brought charges against both Coinbase and Binance, two of the largest crypto exchanges in the world. According to Deaton, this is part of an ongoing anti-crypto agenda which seeks to ultimately end with large institutions buying up much of the industry.
Deaton Predicts Takeover Attempts
Months ago before Coinbase was sued, Deaton predicted that chair Gary Gensler would launch an offensive on Coinbase exchange if CEO Brian Armstrong didn’t accept an incumbent partner. He additionally suggested that Gensler could sue Coinbase attempting to serve as a proverbial straw while investors get screwed.
Utility Will Win The Day
Despite his predictions, Deaton remains optimistic about crypto’s potential future stating even if 99% of crypto goes to zero there would still be 100-200 projects left standing – so utility will win out in the end once all is said and done.
Conclusion
It appears as though pro-XRP lawyer John Deaton has predicted major banks’ takeover attempt following SEC’s crackdown on cryptocurrency exchanges such as Coinbase and Binance which signals their anti-crypto agenda at play; however he remains hopeful for a future where utility wins out despite potential losses suffered by investors along they way due to regulations imposed by incumbents looking to gain a bigger slice of this lucrative market.
