Bitcoin advocate and advisor Max Keiser made a comment on Twitter stating that the SEC is right in its move to shut down Ripple. This comment has quickly generated reactions among the XRP community.
Keiser made this comment reacting to Ripple’s latest move to acquire Swiss startup Metaco. According to him, Ripples’ “business model is selling unregistered securities,” praising the SEC’s effort to end the blockchain company.
.@Ripple are crooks. Their business model is selling unregistered securities. The SEC is right to shut them down. https://t.co/gQueVd2GHZ
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) May 17, 2023
Advertisement
Ripple made an announcement on May 17 that it is going to acquire Metaco, an international digital asset custody, and tokenization technology. This comes amid its legal battles with the Security and Exchange Commission.
XRP community reactions
A vocal supporter of XRP Mr. Huber made a comment on Twitter, tagging Max Keiser to it. He cited a court ruling in favor of Ripple while asserting that the company is unlikely to be shut down.
“A judge calling to protect Ripple’s sales of XRP because it’s their main line of business doesn’t sound the slightest like a judge who is going to shut it down,” he wrote.
A judge calling to protect Ripples sales of xrp because it's their main line of business also doesn't sound the slightest like a judge who is going to shut it down. @maxkeiser @mattkratter 😂 https://t.co/uIoytEQA3a
— Mr. Huber🔥🦅🔥 (@Leerzeit) May 18, 2023
Huber made his comment in response to a tweet by @TipsyTiger who shared a screenshot of a recent ruling by Judge Torres on the Hinman emails. According to TipsyTiger, the ruling doesn’t read like the Judge believes XRP is a security.
“Doesn’t read like a judge that believes the asset itself is a security or ODL sells that’s for sure,” he tweeted.
Read Also:
- Ripple vs. SEC Update: William Hinman Emails to be Publicly Available
- See How Coinbase Lawsuit Against SEC Could Benefit Ripple Legal Battle
- Max Keiser Says SEC is Right to Shut Down Ripple
- Ripple vs. SEC: Venture Capitalist Insists that XRP is Obviously a Security
- BlackRock Fund Withdraws $1.9 Million in PEPE, sparks reactions
What’s more, Australian attorney Bill Morgan, an XRP fan, believes that Judge Torres’ most recent ruling regarding the Hinman emails may indicate that she is well-versed in Ripple’s history and current operations.
Furthermore, Morgan says in his tweet that the Judge seems to be fully aware that Ripple’s business has evolved from programmatic sales of XRP tokens in the past to sales to ODL (on-demand liquidity) customers.
The decision yesterday shows Judge Torres has informed herself considerably about Ripple’s past and current business. She seems well aware that Ripple’s business in the past involved institutional and programmatic sales of XRP but now is based on sales to ODL customers/1
— bill morgan (@Belisarius2020) May 17, 2023
“The materials relating to Ripple’s ODL she found should be redacted. Interesting, that she calls it a product. Sales of XRP to ODL customers are part of the product, not a common enterprise … perhaps. No mention of Howey,” he added.
Ripple (XRP) price today
According to live data from CoinMarketCap, the price of XRP today is $0.4647. It is up 4.73% in the last 24 hours. XRP is ranked #6 on the CoinMarketCap chart with a live market cap of $24,101,139,058 USD.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.