Max Keiser, a well-known Bitcoin BTC/USD proponent, on Wednesday, targeted XRP and its community on Twitter.
What Happened: Keiser described XRP as a “shi*coin” based on El Salvador’s legal position on the definition of crypto assets.
His criticism was in response to Ripple’s CTO, David Schwartz’s tweet concerning the regulatory stance of the SEC on cryptocurrencies.
Schwartz raised concerns about the potential impact of the ongoing SEC vs. Ripple lawsuit on the US crypto industry.
He expressed concern that "If the SEC’s legal position means all tokens but bitcoin are securities, then the stakes are whether US persons can participate legally in everything else in the crypto space.”
Reacting to Schwartz’s tweet, Keiser wrote that XRP’s legal position in El Salvador is under the category of “shi*coin.”
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Why It Matters: The feud started when Kesier attacked XRP on a Mar. 23 Twitter post. He said that in El Salvador, other crypto assets besides Bitcoin are all considered securities.
Keiser tore up a $10 bill on July 8, 2021, calling the dollar "garbage." He said that "all currencies are going to zero against BTC."
Price Action: At the time of writing, XRP was trading at $0.4532 down 0.44% in the last 24 hours, according to Benzinga Pro.
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