- Max Keiser, a Bitcoin proponent, believes that Ripple will lose its case against the U.S. SEC because XRP is already “marked for death.”
- Keiser criticizes the SEC’s actions against independent players and crypto exchanges, suggesting that they were meant to pave the way for larger firms like BlackRock and WisdomTree to enter the Bitcoin market.
Max Keiser, a prominent Bitcoin proponent, has shared his predictions regarding the outcome of the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). Keiser believes that Ripple will ultimately lose the case, asserting that XRP is already “marked for death.”
In a recent tweet, Keiser stated that the ongoing lawsuit was not about the law but rather aimed at eliminating XRP. He suggested that SEC Chair Gary Gensler had been assigned the task of taking down XRP. Keiser further highlighted that El Salvador’s decision to legalize Bitcoin as legal tender was a significant step towards disregarding other cryptocurrencies deemed unregistered securities.
Keiser also commented on the efforts of major firms to launch spot Bitcoin exchange-traded funds (ETFs). WisdomTree, a renowned ETF provider, recently filed an application with the SEC for approval to launch the WisdomTree Bitcoin Trust, following a similar application by BlackRock. Keiser remarked that the SEC’s enforcement actions had cleared the path for these larger players to enter the Bitcoin market while affecting independent players and crypto exchanges.
Known for his steadfast support of Bitcoin, Keiser has been a vocal critic of altcoins, particularly XRP, which he has referred to as a “sh*tcoin” on multiple occasions. He has aligned himself with the SEC’s allegations that XRP is a security in the ongoing lawsuit against Ripple. Keiser often takes the opportunity to criticize the XRP community whenever the SEC takes enforcement actions against other cryptocurrencies.
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In response to Keiser’s comments, members of the XRP community have displayed readiness to counter his criticisms. Notably, John Deaton, the founder of CryptoLaw, agreed with one of Keiser’s assertions regarding the SEC. Deaton concurred that the SEC Chair, Gary Gensler, is protecting incumbents and the status quo while aiming to eliminate competition.
As the Ripple vs. SEC lawsuit continues, Keiser’s predictions and criticisms add to the ongoing discourse surrounding XRP’s legal status and the role of regulatory authorities in shaping the crypto landscape.
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