Keiser Says Ripple SEC Lawsuit Aimed at Killing XRP, “It Was Never About Law”

Keiser Says Ripple SEC Lawsuit Aimed at Killing XRP, “It Was Never About Law”

Time Stamp: June 21, 2023 4:28 AM
Source Node: 2735719

Bitcoin (BTC) proponent Max Keiser believes Ripple will lose its case against the U.S. SEC because XRP is “marked for death.”

Bitcoin proponent Max Keiser has predicted the outcome of the lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple.

In a tweet today, Keiser said Ripple would lose its case against the SEC. According to the BTC proponent, the ongoing lawsuit was never about the law. He stated that XRP was already marked for death, and SEC Chair Gary Gensler was tasked with taking it out.

Furthermore, Keiser said El Salvador had taken major steps toward eliminating “all this nonsense” by legalizing Bitcoin as a legal tender, while everything else is deemed unregistered securities.

Keiser Comments on WisdomTree’s Bitcoin ETF Application

Notably, Keiser also commented on the ongoing efforts by top firms to launch a spot Bitcoin exchange-traded fund (ETF).

According to reports, popular ETF provider WisdomTree filed an application with the SEC seeking approval to launch the WisdomTree Bitcoin Trust, a spot Bitcoin ETF. The move comes a week after BlackRock filed a similar application.

Commenting on the development, Keiser said the SEC “swept away” independent players and crypto exchanges via its enforcement actions to pave the way for BlackRock and WisdomTree to get into Bitcoin.

It is worth noting that Keiser was referring to SEC’s recent enforcement actions against top crypto exchanges.

Keiser Continuous Attacks Against XRP

Keiser, known for his unwavering support for Bitcoin, has been a major critic of altcoins, with a particular focus on XRP. On several occasions, he has called the sixth-largest cryptocurrency a “sh*tcoin.”

He has also thrown his weight behind the SEC for alleging that XRP is a security in the commission’s lawsuit against Ripple. Aside from XRP, Keiser considers other crypto assets “sh*tcoins and securities.” 

For every SEC’s enforcement action against crypto, Keiser fires shots at the XRP community. After the SEC labeled ADA, BNB, SOL, and MATIC, among others, as unregistered securities earlier this month, Keiser tweeted, “Sorry XRP idiots” while attaching a photo of him wearing a Bitcoin-themed T-Shirt with the inscription “I told you so.”

XRP Enthusiasts React

Meanwhile, XRP community members have shown a readiness to respond with similar energy anytime Keiser makes derogatory comments against XRP.

In an interesting development, CryptoLaw founder John Deaton agreed with Keiser in one of his assertions about XRP. As reported earlier, the Bitcoin proponent noted that XRP enthusiasts are yet to understand that the United States law is not cryptos’ problem. He pointed out that the SEC is bent on destroying all competitions on behalf of its friends.

Keiser’s remark attracted Deaton’s attention. The pro-XRP lawyer agrees with Keiser that the SEC Chair Gary Gensler is protecting the incumbents and the status quo.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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