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With the GENIUS Act now officially passed, pro-XRP attorney John Deaton has released a new report analyzing which blockchain projects, including Ripple and Ethereum, stand to gain the most. While Ripple’s Stablecoin, RLUSD, and Circle’s USDC are highlighted as potential beneficiaries of this landmark legislation, the report suggests that Ethereum is poised to be the biggest winner overall. 

GENIUS Act To Favor Ethereum Over Ripple

In a recently released statement on the X social media platform on July 3, Deaton weighed in on the implications of the recently signed GENIUS Act. While Ripple and Circle have drawn much attention as the likely front-runners under the legislation, the pro-crypto attorney contends that Ethereum is set to benefit the most from the new regulatory framework compared to other blockchains.

The GENIUS Act, which stands for Government Encouragement of National Innovation and Upliftment of Startups, aims to provide regulatory clarity for digital assets and stablecoins operating within the US market. This new legislation is being widely viewed as a turning point for crypto projects and a historical moment for the industry. 

Deaton acknowledged the broader consensus that Ripple, with its recently introduced stablecoin, RLUSD, and Circle, the issuer of USDC, would benefit significantly from the regulatory clarity established by the GENIUS Act. However, he emphasized that Ethereum is even more uniquely positioned to capitalize on the provisions of the legislation due to its long-standing infrastructure and its deep connection to stablecoins.

In his view, influential Ethereum advocates such as AK_EtherMachine, Fundstrat, and Ethereum co-founder Joseph Lubin have the strategic leverage and regulatory foresight to steer the blockchain network into a dominant role within the compliant US crypto ecosystem. Deaton further pointed to growing momentum behind Ethereum-compatible initiatives, including discussions by Padro Ardoino and Tether about introducing a US-based version of the UDST stablecoin. These developments suggest a broader industry pivot toward crypto compliance and innovation within US borders, alongside a renewed focus on Ethereum’s foundational role in powering stablecoins. 

Notably, Deaton’s remarks come at a time when clear regulations continue to be a decisive factor in determining which blockchain networks and cryptocurrencies thrive in the evolving market. While Ripple has long championed regulatory transparency, especially through its ongoing legal battles with the US SEC, Ethereum’s flexible and developer-friendly network may offer a more scalable way to meet US-centered compliance standards. 

Ethereum And XRP Prices Slide Despite Policy Momentum

Despite renewed optimism and positive sentiment fueled by the GENIUS Act, the prices of Ethereum and XRP have retraced. According to data from CoinMarketCap, ETH‘s price surged over 40% in the past month. However, in this past week alone, the leading altcoin dropped nearly 9% and is now trading at $3,548. 

XRP has also experienced a pullback after rallying above $3. While it recorded a 34.8% increase over the past month, the cryptocurrency crashed by 8.33% this week. Now, XRP is teetering between $2.8 and $3 as it struggles to break through former support levels.

Featured image from Getty Images, chart from Tradingview.com

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Attorney James A. Murphy has brought action against the Department of Homeland Security (DHS) in the U.S. District Court for the District of Columbia. The lawsuit was initiated to compel the release of government records related to the identity of Bitcoin creator Satoshi Nakamoto.

The suit was filed on April 7, 2025, following the department’s failure to respond to Murphy’s Freedom of Information Act (FOIA) request dated February 12, 2025.

DHS Agent Allegedly Confirmed Knowledge Of Satoshi Nakamoto

According to court documents, Murphy is seeking records of an interview that DHS allegedly conducted with the person or persons using the pseudonym Satoshi Nakamoto. This development comes following the Bitcoin creator’s birthday, which took place on April 5.

The complaint cites public statements made by DHS Special Agent Rana Saoud at a 2019 conference, where she allegedly confirmed that DHS knows Nakamoto’s identity and had sent agents to California to interview him.

The lawsuit comes amid increasing government interest in Bitcoin. The complaint referenced President Trump’s March 6, 2025, Executive Order establishing a “Strategic Bitcoin Reserve.” They also noted that nearly 20 states are currently considering legislation to authorize investing public funds in Bitcoin.

The lawsuit centers on statements made by DHS Special Agent Rana Saoud during a presentation at the OffshoreAlert Conference North America on April 29, 2019.

Court documents quote Saoud as explaining that a “really smart, forward-leaning agent” had requested to interview Nakamoto. Despite initial skepticism and “push back” from headquarters, agents were sent to California for the meeting. When the agents arrived, they reportedly discovered that Nakamoto “wasn’t alone in creating” Bitcoin and that “there were three other people” involved.

The complaint states that Saoud described how the agents “sat down and met with them and talked to them to find out how this actually works and what their reason for it was.” Despite this public disclosure, the identities of these four individuals have never been revealed to the public, according to the lawsuit.

FOIA Request History And Government Inaction

Murphy’s suit provides a comprehensive timeline of efforts he undertook to get information requested through the lawful FOIA process before being forced to sue. On February 12, he requested records from four categories.

The records included whether there was any transcript of Saoud’s statements in 2019 that were made publicly. These include a record of any interview done by DHS with someone using the name Satoshi Nakamoto, a record of any interviews with others who claimed to be the inventors of Bitcoin, and a record of any information that discussed the identity of the creator(s) of Bitcoin.

The complaint indicates that DHS accepted the request for documents on February 13, 2025, and assigned tracking number 2025-HQFO-02468 to the request. DHS also forwarded the request to Immigration and Customs Enforcement (ICE), which is a component of DHS. However, on February 19, ICE informed Murphy that they intended to process the request under a prior tracking number (2025-ICFO-17214) assigned to a similar request made by Murphy earlier.

Satoshi’s identity will undoubtedly continue to be of huge interest, especially considering that the Bitcoin creator’s net worth is 1.1 million BTC, worth around $86.9 billion based on the flagship crypto’s current price.

Murphy’s Complaint Shows Interest in Bitcoin’s Creator

Murphy’s complaint emphasizes the public interest in identifying Bitcoin’s creator. The lawsuit points to President Trump’s recent executive order directing that all Bitcoin held by the federal government be placed in a Strategic Bitcoin Reserve. It also authorizes the Secretaries of the Treasury and Commerce to develop “budget-neutral strategies for acquiring additional Bitcoin.”

The complaint also references pending U.S. Senate legislation to establish a Bitcoin reserve operated by the Treasury Department and notes that nearly 20 states are considering laws to allow public fund investment in Bitcoin.

According to the filing, many public and private companies currently hold Bitcoin as treasury assets. Notably, Strategy holds over 500,000 Bitcoin. However, Strategy halted Bitcoin purchases with no acquisitions made in the first week of April. This was following a recent drop in Bitcoin price to as low as $74,000.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.