Podcast Summary: The Wolf Of All Streets – "He Put 80% Into Bitcoin, Now He’s Calling Out The Government | John Deaton"

Released on June 11, 2025

In this compelling episode of "The Wolf Of All Streets," host Scott Melker engages in a deep and insightful conversation with John Deaton, a prominent figure in the cryptocurrency world known for his significant investment in Bitcoin and his legal battles against government regulations. This episode delves into John's unwavering commitment to Bitcoin, his stance against governmental overreach, the implications of stablecoin legislation, and the broader socio-economic impacts of cryptocurrency adoption.

1. John Deaton's Investment Philosophy: Going All-In on Bitcoin

John Deaton shares his bold investment strategy, revealing that 80% of his net worth is invested in Bitcoin. This substantial commitment underscores his belief in Bitcoin's resilience and potential as a store of value.

• Quote [00:16]:
  John Deaton: "Nobody does. I'm human. You're terrible at it. So the boot of the government's on the neck of the industry."

John elaborates on his decision, highlighting that his early adoption of Bitcoin was driven by a desire to protect his family's financial future amidst concerns about currency debasement and governmental fiscal policies.

• Quote [06:36]:
  John Deaton: "It was 2016. I heard my daughters... and digital assets represented the new American dream to me."

He connects his personal investment to broader themes of financial independence and economic empowerment, emphasizing Bitcoin's role in bridging the wealth gap.

2. Combating Government Overreach: Legal Battles and Advocacy

A significant portion of the discussion revolves around Deaton's legal challenges against the U.S. Securities and Exchange Commission (SEC), particularly his lawsuit on behalf of Ripple (XRP). He critiques what he perceives as governmental overreach in regulating digital assets.

• Quote [01:43]:
  John Deaton: "It was just about government overreach. The government shouldn't tell you what you can own. They shouldn't pick winners and losers."

Deaton defends his actions, asserting that his fight against the SEC is not just for XRP but for the broader cryptocurrency ecosystem. He believes that government interference hampers innovation and limits the financial autonomy of individuals.

• Quote [03:05]:
  John Deaton: "Fighting the government, fighting the Elizabeth Warrens of the world is the honorable thing to do."

He emphasizes the importance of standing up against powerful regulatory bodies to ensure a free and open financial market.

3. The Future of Stablecoin Legislation and Financial Regulation

Deaton discusses the critical need for comprehensive legislation surrounding stablecoins and centralized exchanges. He advocates for measures that ensure consumer protection and financial stability.

• Quote [05:39]:
  John Deaton: "If they did, my account, your account should never be considered property or assets of the Centralized exchange to go to their creditors."

He stresses the importance of segregating customer funds to prevent losses in the event of exchange bankruptcies, referencing his personal experience with the Voyager bankruptcy.

• Quote [05:20]:
  John Deaton: "I'm not a leverage guy. But I've owned Bitcoin since 2016 and I've never really made money on it other than price appreciation."

Deaton also touches upon the inevitability of US dollar dominance in stablecoins and the challenges in legislating more complex financial instruments.

4. Personal Experiences and Market Volatility

The conversation delves into Deaton's personal investment experiences, including moments of significant market volatility that tested his resolve and strategy.

• Quote [12:10]:
  Scott Melker: "Matt Hogan from Bitwise said right now is the best risk-adjusted time to buy Bitcoin."

• Quote [13:30]:
  John Deaton: "In March of 2020, when Bitcoin went to what, 3700 or something like that... I had those moments."

Despite facing sleepless nights during market downturns, Deaton remains steadfast in his belief in Bitcoin's long-term value, viewing his significant investment as a calculated risk with immense potential rewards.

5. Addressing the Wealth Gap and Societal Implications

Deaton passionately discusses how cryptocurrency, particularly Bitcoin, can be a tool to address the growing wealth gap and prevent potential civil unrest stemming from economic disparities.

• Quote [09:17]:
  John Deaton: "The wealth gap is at a stage now where it's going to trigger civil unrest... It's the biggest sort of factor or risk that we have in our country today."

He envisions a future where tokenization and fractional ownership democratize access to assets like real estate, enabling broader wealth distribution and financial inclusion.

6. Future Legislative Reforms and Institutional Adoption

Looking ahead, Deaton emphasizes the importance of passing stablecoin legislation and market structure bills to secure the future of the cryptocurrency industry against fluctuating political landscapes.

• Quote [22:20]:
  John Deaton: "Once the Senate flips, and it'll eventually flip again, everything flips. We really need this opportunity."

He advocates for enacting legislation that can withstand political shifts, ensuring that reforms are cemented into law rather than being subject to reversal by subsequent administrations.

7. Personal Anecdotes and Campaigning Against Regulators

Towards the end of the conversation, Deaton shares his personal experiences in standing up against prominent figures like Senator Elizabeth Warren, highlighting his willingness to challenge powerful opponents to defend the crypto industry.

• Quote [24:17]:
  Scott Melker: "So worth every penny."
  John Deaton: "When I brought up Epstein and all that stuff, just looking at her face told her she sucked to her face."

His anecdotes illustrate the personal and professional challenges faced by advocates fighting for regulatory clarity and freedom in the cryptocurrency space.

8. Embracing Technological Innovations and Passive Income

Deaton discusses his collaboration with Arch Public to explore algorithmic trading and passive income strategies without compromising his crypto assets. He highlights the importance of making advanced financial tools accessible to regular people to bridge the wealth gap.

• Quote [19:46]:
  John Deaton: "I'm a big proponent... of it [Arch Public]."

He underscores the potential of technology to democratize financial opportunities, allowing individuals to build wealth similarly to institutional investors.

Conclusion: A Vision for a Financially Inclusive Future

John Deaton's unwavering commitment to Bitcoin and his active resistance against governmental overreach exemplify the challenges and opportunities within the cryptocurrency landscape. His insights offer a blend of personal experience, legal expertise, and forward-thinking visions for a financially inclusive future powered by decentralized assets.

Through this episode, listeners gain a profound understanding of the intricate balance between individual financial autonomy, regulatory frameworks, and the transformative potential of cryptocurrency in addressing systemic economic issues.

Notable Quotes with Timestamps:

• [00:16]
  John Deaton: "Nobody does. I'm human. You're terrible at it. So the boot of the government's on the neck of the industry."

• [06:36]
  John Deaton: "It was 2016... digital assets represented the new American dream to me."

• [01:43]
  John Deaton: "It was just about government overreach. The government shouldn't tell you what you can own. They shouldn't pick winners and losers."

• [03:05]
  John Deaton: "Fighting the government, fighting the Elizabeth Warrens of the world is the honorable thing to do."

• [05:39]
  John Deaton: "If they did, my account, your account should never be considered property or assets of the Centralized exchange to go to their creditors."

• [12:10]
  Scott Melker: "Matt Hogan from Bitwise said right now is the best risk-adjusted time to buy Bitcoin."

• [09:17]
  John Deaton: "The wealth gap is at a stage now where it's going to trigger civil unrest... It's the biggest sort of factor or risk that we have in our country today."

• [22:20]
  John Deaton: "Once the Senate flips, and it'll eventually flip again, everything flips. We really need this opportunity."

• [24:17]
  Scott Melker: "So worth every penny."
  John Deaton: "When I brought up Epstein and all that stuff, just looking at her face told her she sucked to her face."

This episode provides a comprehensive look into John Deaton's perspectives on investment, regulation, and the future of cryptocurrency, offering valuable insights for both seasoned investors and those new to the crypto space.