Bitcoin maximalist Max Keiser and staunch Ripple advocates have drawn the battle lines, igniting a heated war of words. Keiser, well-known for his fiery rhetoric, has sparked controversy by branding Ripple a “Ponzi scheme.” He argues that Ripple CEO Brad Garlinghouse’s lavish spending fails to salvage the embattled project.

Of course the SEC is ‘overreaching’ but that won’t stop them from killing off XRP and every other shitcoin. (Except BTC, of course. It’s untouchable).

Because there is virtually no rule of law whatsoever in Wall St/finance for those with $ and clout. Brad Garlinghouse has been… https://t.co/NwH9sH6qk8

— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) June 23, 2023

Keiser’s Controversial Claim 

Keiser, despite his criticism of the SEC’s overreach, predicts that the regulatory body will dismantle XRP and dismissively label other digital currencies as “shitcoins.” He remains resolute, undeterred by Garlinghouse’s immense wealth and influence, as he pits them against the formidable forces of the federal government and Wall Street heavyweights like billionaire Jamie Dimon.

“Brad Garlinghouse has been spending a lot to keep his Ponzi scheme going, but he can’t outspend the Feds & Jamie Dimon.” 

According to Keiser, Bitcoin (BTC) stands alone as a cryptocurrency impervious to regulatory interventions. In his eyes, XRP’s downfall is inevitable.

Also Read: US Banks Collapse: Max Keiser Suggests To Buy More Bitcoin ASAP – Coinpedia Fintech News

XRP’s Champion Speaks: John Deaton Fires Back

Nevertheless, in every great story, a hero emerges. And for XRP, that hero is John Deaton. 

This pro-XRP lawyer challenges Keiser’s assertion that the SEC can completely “kill” XRP, pointing to past debates surrounding Bitcoin’s classification as a security. Deaton insists that a regulatory body’s classification does not determine the fundamental nature of a cryptocurrency.

Max, the SEC can’t “kill” XRP. I’m sure you’re aware that in 2013-2015 some people at the SEC were calling #Bitcoin a security (which is insane).👇 is a video of Joe Grundfest in 2015 discussing it. Don’t get me wrong the SEC can and has caused damage (ie dry up liquidity) and…

— John E Deaton (@JohnEDeaton1) June 23, 2023

Deaton confidently states that XRP will stand tall, regardless of any potential violations committed by Ripple. He goes a step further, accusing the SEC of favoring Ethereum due to vested interests held by certain investors. Deaton advocates for fair competition, where superior technologies are given the opportunity to shine, envisioning a more equitable America.

As Ripple faces legal challenges, the fate of XRP remains uncertain, with a potential resolution looming in the coming weeks.

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• Source: https://coinpedia.org/news/keisers-controversial-claim-is-ripple-a-ponzi-scheme/