US attorney Bill Morgan mocks the principal XRP critic Max Keiser following the court’s verdict that XRP is inherently not a security.
Bitcoin (BTC) maximalist Max Keiser remains a well-known critic of XRP, the native token of the XRP Ledger (XRPL). In a recent outcome, a renowned lawyer in the XRP community Bill Morgan took a dig at Keiser over an XRP description he shared in the past week, citing Ripple’s victory against the SEC.
Morgan noted on Tuesday that XRP is the only altcoin to gain regulatory clarity in the United States, as he sneered at Kesier for dubbing the asset “a dead coin walking” on July 10. He added that Bitcoin is no longer the only crypto asset with regulatory clarity.
This hasn’t aged well over the last 5 weeks. Not only is XRP not a dead coin walking but a judge found that the XRP token itself is not a security. Bitcoin no longer has a monopoly on clarity. Oh no! https://t.co/5QBRS2AYlM
— bill morgan (@Belisarius2020) July 18, 2023
Citing Keiser’s comment, Morgan remarked: “…Not only is XRP not a dead coin walking but a judge found that the XRP token itself is not a security. Bitcoin no longer has a monopoly on clarity. Oh no!”
Keiser’s Attack on XRP
Before the court’s ruling on July 13 in the longstanding SEC v. Ripple lawsuit, Keiser labeled the XRP token a walking corpse on July 10.
Per the tweet, he implied that XRP would be deemed a security in the case despite the efforts from the founder of CryptoLaw, John Deaton. “Deaton will advocate tirelessly for his clients, but he must know in his heart of hearts that XRP is a dead coin walking,” Keiser said.
Deaton will advocate tirelessly for his clients, but he must know in his heart of hearts, that XRP is a dead coin walking.
“Deaton Says He Finally Agrees With Top XRP Critic Max Keiser” https://t.co/xEXDVIcR3a
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) June 10, 2023
Notably, this provocative statement from the El Salvador government Bitcoin adviser came in response to a report published by The Crypto Basic. In the report, Deaton conceded that the US Securities and Exchange Commission (SEC) is a “protection racket” for a few insiders in the crypto space.
To further celebrate Ripple’s victory and XRP’s regulatory clarity, Morgan recalled these past conversations to shame Keiser.
Regardless, the XRP critic still believes SEC Chair Gary Gensler would continue to go against XRP, ETH, and other altcoins. This explains why Keiser encourages the El Salvador government to focus more on mining Bitcoin, as the leading crypto asset has legal protection.
We mine our own Perfect Money #Bitcoin in #ElSalvador while protecting our citizens with legal protections from toxic, terrorist shitcoins like XRP ETH ADA BNB BCH BSV & 25,000 others. https://t.co/Ln4HI5ojT6
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) July 18, 2023
Besides XRP, the SEC has continued to brand other altcoins as securities. These include assets such as Cardano (ADA) and Algorand (ALGO) in the recent court filing against Binance.
