Despite Ripple’s judicial triumph, Max Keiser stands firm in his conviction that XRP constitutes a pre-mined asset.
Ripple, a crypto enterprise located in San Francisco specializing in international transactions, recently triumphed in its judicial dispute with the United States Securities and Exchange Commission (SEC). After almost four years of judicial combat, the SEC abandoned its appeal, Ripple incurred a penalty of $125 million, and XRP obtained recognition as not a security.
Nevertheless, Ripple’s counter-argument persists, implying the crypto sector will probably experience more about this judicial narrative.
For specific crypto devotees, notably Bitcoin advocates, the judicial categorization of XRP as a non-security holds no significance. Max Keiser, a notable Bitcoin champion, has branded the altcoin as a pre-mined asset.
Keiser’s assertion originates from the SEC’s verification that Bitcoin and alternative cryptocurrencies grounded in the proof-of-work consensus system do not constitute securities. He asserts that pre-mined cryptocurrencies such as ETH and XRP are securities. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
Keiser is not isolated in his doubt. Ripple’s sustained command of over 37 billion XRP in escrow elicits apprehensions regarding the altcoin’s decentralized attribute.
This substantial sum, equivalent to $88.39 billion, signifies over a third of the aggregate XRP in circulation. While Ripple contemplates gradually discharging these XRP into the marketplace, this degree of command casts a pall on XRP’s decentralization, at a minimum in Keiser’s estimation.
