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XRP Slammed by Max Keiser as 'Made to Steal Billions From Fools'

Published 05/17/2024, 10:51 AM
Updated 05/17/2024, 03:00 PM
© Reuters.  XRP Slammed by Max Keiser as 'Made to Steal Billions From Fools'

U.Today - Vocal Bitcoin supporter and former financial journalist Max Keiser has published a tweet to criticize one of the top altcoins in terms of market cap – XRP.

Besides, Keiser also revealed why millions of people are swapping their fiat money for Tether’s USDT.

Max Keiser on XRP and Brad Garlinghouse

From time to time, Keiser tweets about leading altcoins, such as XRP, ADA and SOL, slamming them as “centralized garbage” and supporting the head of the Securities and Exchange Commission, Gary Gensler, in his criticism of altcoins as “unregistered securities.”

In a recent tweet, Keiser once again stated that he expects XRP to continue declining to zero against Bitcoin.

He went even further when he stated that XRP was created by Brad (Garlinghouse), the Ripple CEO, “to steal billions from witless fools.” Keiser chose not to mention that XRP emerged several years before Garlinghouse took the chief executive position at Ripple Labs.

Keiser praises centralized USDT stablecoin

While being an adept of decentralized Bitcoin, Keiser has recently taken to appreciating USD-backed stablecoin USDT issued by Tether. Keiser admits that this stablecoin is centralized. However, he sees in it a means to crash the fiat U.S. dollar. He tweeted about this digital currency: “It’s a centralized, play-money proxy to the USD.”

He then explained why a lot of people are changing their fiat coins into USDT, which runs on multiple chains, including Tron and Ethereum, to get access to banking services. “Millions of people swap their fiat money for Tether because they don’t have bank accounts or access to banking services,” he tweeted, and “they use Tether like USD.”

Over the past 24 hours, Tether has issued a whopping $1 billion worth of stablecoins on the Tron chain. In the past year, 31 billion USDT have been emitted by this company on both Tron and Ethereum, according to a tweet published by the @lookonchain analytics X handle.

However, Keiser’s support for Tether may be explained by the fact that recently Tether started to allocate part of its profits to buying BTC.

Keiser is positive that these actions are killing the U.S. dollar as a global reserve currency “by issuing a fake version that millions use and putting the interest from investing in US Treasuries into Bitcoin.”

This article was originally published on U.Today

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