The legal battle between Ripple and the U.S. SEC has finally come to a close, with Ripple emerging victorious. After years of back and forth, the SEC dropped its appeal, resulting in Ripple being fined $125 million and XRP being recognized as a non-security. This news has sent ripples through the cryptocurrency market, with many closely watching Ripple’s cross-appeal.
One prominent figure in the cryptocurrency space, Max Keiser, has been vocal about his views on XRP. Keiser, a long-time Bitcoin advocate, believes that XRP is not truly decentralized, citing Ripple’s control over a significant portion of the total XRP supply. With over 37 billion XRP held in escrow by Ripple, Keiser argues that the altcoin is not only pre-mined but also a security.
The sheer volume of XRP held by Ripple is staggering, representing a substantial portion of the coin’s overall market capitalization. While Ripple has plans to gradually release this supply, the centralized control of such a large amount raises questions about the decentralization of XRP in Keiser’s eyes.
Despite the legal victory for Ripple and the SEC’s recognition of XRP as a non-security, the debate over the cryptocurrency’s decentralization and security status is far from over. As the cryptocurrency market continues to evolve, it is clear that differing opinions on XRP’s classification will persist. Stay tuned for more updates on this ongoing saga.