Sunday, May 26, 2024
HomeCryptocurrencyBitcoin Maximalist Max Keiser Tags XRP a Shitcoin. Here's why

Bitcoin Maximalist Max Keiser Tags XRP a Shitcoin. Here’s why

Max Keiser seems to be taking on more issues than he could handle following another recent attack on the XRP community. In the latest development, Max Keiser took to his official Twitter account to criticize XRP and its teeming community members.

In response to a tweet describing why XRP should not be a security, Max wrote, “Where I live, #ElSalvador, anything *Not* #Bitcoin is a security; this would include XRP.”

Read Also: Ripple CEO Brad Garlinghouse Defends XRP Against Securities Allegations, Slams Critics

Max emphasized in his tweet that El Salvador only recognizes BTC as a non-security asset, while other cryptocurrencies like XRP are regarded as securities.

Max Keiser Says XRP is a Sh*tcoin

Max Keiser is Bitcoin’s adviser to El Salvador’s President. In previous news, Max claimed that the SEC is correct in its claims on XRP being a security asset. Max’s antics didn’t go down well with the XRP community as he faced several backlashes.

However, in a recent turnout of events, Max does not seem disturbed about what the XRP community members think of him. Apart from the tweet reiterating El Salvador’s position on security and non-security crypto assets, Max already tagged XRP as a sh*tcoin. “This is the legal position in El Salvador. XRP is as a sh*tcoin,” Max stated.

Read Also: Based on Ripple CTO’s Assumed ATH, Analyst Predicts $27 XRP Price. Here’s the Timeline

Sh*tcoin is a derogatory statement in the crypto space which describes a cryptocurrency with poor utility, market presence, and technology. Sh*tcoins could also come with fraudulent motives.

<

Meanwhile, based on speculations, we suspect that Max’s latest outbursts may be due to the statement from Ripple’s Chief Technology Officer (CTO), David Schwartz, which appears to launch an attack on SEC’s stance in the ongoing legal battle against Ripple, stating that “If the SEC’s legal position means all tokens but Bitcoin are securities, then the stakes are whether U.S. persons can participate legally in everything else in the crypto space.”


Follow us on Twitter, Facebook, Telegram, and Google News

Chinedu Agbakwusi
Chinedu Agbakwusi
Chinedu Agbakwusi is a medical student at the prestigious Nnamdi Azikiwe University with sound knowledge of the crypto space. I am here to be a reliable plug for well-researched crypto content ranging from crypto news to market analyses and blockchain inventions.
RELATED ARTICLES

Latest News & Articles