John Deaton has once again slammed anti-crypto senator Elizabeth Warren, saying that she has lost her war on crypto. The pro-XRP lawyer opined that with Wall Street’s major entry into the industry, critics will likely change their stance. Deaton’s remarks come after financial giants, including Morgan Stanley, Charles Schwab, and Vanguard, announced plans to offer their clients exposure to crypto assets.
Deaton Calls Out Warren’s Anti-Crypto War as Institutional Adoption Peaks
In an X post, Deaton mentioned several financial institutions on Wall Street that are dipping their toes into crypto. These include Charles Schwab, Fidelity, Morgan Stanley, and Vanguard. He said that based on this, even the CEO of JPMorgan Chase, Jamie Dimon, could soon affirm that “crypto is here to stay.”
Deaton also suggested that the former chair of the US Securities and Exchange Commission (SEC), Gary Gensler, might issue a pro-crypto statement soon.
“Schwab, Vanguard, Fidelity, Morgan Stanley – even Jamie Dimon says crypto’s here to stay. Someone tell Warren she lost the crypto war and her anti-crypto army has been dismantled. Soon, Gary Gensler will come out saying he was for crypto all along,” he stated.
Last year, Deaton launched a Senate bid to unseat Warren in Massachusetts but failed to clinch the seat. Nevertheless, he has maintained his pro-crypto stance and continues to bash Warren, who earlier this year wrote a letter to crypto czar David Sacks, raising concerns about plans for a Bitcoin reserve.
Wall Street Doubles Down on Crypto
Deaton’s optimism regarding crypto adoption in the US follows a wave of interest from top financial institutions. According to the President of ETF Store, Nate Geraci, the surge has proven that crypto is not a scam.
In an X post, he stated, “In the next few months, Charles Schwab will offer direct spot crypto trading to clients while Morgan Stanley will launch spot BTC & SOL ETFs… Meanwhile, Vanguard now allows clients to trade spot crypto ETFs. You see what’s happening here yet?”
On December 6, Morgan Stanley filed with the SEC to offer Bitcoin and Solana ETFs to its clients. If approved, the investment bank will join BlackRock, Fidelity, and Franklin Templeton, which already offer these products.
The filing also comes when more investors are showing interest in ETFs that track the prices of different crypto tokens. Data from SoSoValue shows that BlackRock’s Bitcoin ETF recorded $228 million in inflows on December 6, while Solana and XRP ETFs saw inflows of $9 million and $19 million, respectively.
Source: https://zycrypto.com/pro-xrp-lawyer-john-deaton-slams-warrens-crypto-war-as-wall-street-doubles-down-on-crypto/
