As the legal battle between Vibe and the US Securities and Exchange Commission (SECOND) unfolds, experts continue to speculate on the possible outcomes for both parties involved.
In this line, the recognized Bitcoin (BTC) pundit and outspoken critic Max Keizer has suggested that the SEC would eventually succeed in bringing down XRP while criticizing Ripple CEO Brad Garlinghouse, referring to his operation as a "ponzi scheme”, he said in a cheep on June 23.
Keizer stressed that he believes it is only a matter of time before the regulator takes action against XRP, acknowledging that the SEC's actions may be considered "overreach" by some, but nonetheless predict significant consequences for the majority. . CRYPTOCURRENCIESexcept Bitcoin.
The Bitcoin expert further proposed that the financial The world, particularly on Wall Street, lacks a comprehensive rule of law that tends to favor people with wealth and influence.
“Of course, the SEC is 'overreaching', but that won't stop them from deleting XRP and all the other bullshit coins. (Except BTC of course. It's untouchable.) Because there is virtually no rule of law on Wall St/finance for those with $ and influence, Brad Garlinghouse has been spending big to maintain his Ponzi scheme, but he can't outspend the feds and Jamie Dimon. It's just a question of when, not if, when XRP will drop,” he said.
Questions about the conduct of the SEC
Keizer expressed his opinion in response to a tweet from pro-XRP attorney John Deaton on June 22. Deaton had criticized Bitcoin maximalists for celebrating what he called excessive regulatory practices by the SEC in the cryptocurrency space.
“What is inconsistent is that so many BTC Maxis think they are libertarians and then applaud or celebrate the massive and gross overreach by the SEC,” he said.
It is worth noting that Keizer has previously criticized Ripple, suggesting that the company does not stand a chance against the regulator. in a report Per Finbold, Keizer highlighted that the blockchain firm cannot trump the SEC, stating that XRP is essentially “marked for death.”
Impact of the SEC lawsuit
The outcome of the SEC's lawsuit against Ripple Labs and its possible consequences for the future of XRP remain uncertain. The case is of significant importance to investors and enthusiasts who are closely watching the ongoing legal proceedings, as they can potentially shape the regulatory environment for digital assets.
At the moment, the crypto community eagerly awaits the announcement of the summary judgment date after the conclusion of the hearing.
Adding to the anticipation, a significant development unfolded when the controversial Hinman documents were openedwhich provides insight into the regulator's initial perspective on the classification of digital assets.
