Ripple CTO, Deaton and Morgan Comment on Keiser’s XRP Criticism

Ripple CTO and pro-XRP lawyers – Deaton and Morgan – have reacted to Max Keiser’s constant criticism against XRP.

Top XRP enthusiasts have been drawn to the disparaging comments about XRP by Max Keiser.

Keiser’s Attacks Against XRP

For context, Keiser is known for his unending attacks against XRP. The Bitcoin proponent considers XRP to be not only a “sh*tcoin” but a “security.”

Keiser also backed the SEC for suing Ripple in December 2020 and alleging the cryptocurrency is an unregistered security. Yesterday, the Bitcoin maxi speculated that Ripple would lose the lawsuit against the SEC.

According to him, the multi–year legal battle is not about the law but the fact that XRP has been marked for death. He added that SEC Chair Gary Gensler has been directed to “take the coin out.” 

Keiser’s comment stirred reaction from XRP enthusiasts, with many claiming he is obsessed with the coin. 

Ripple CTO, Deaton, and Morgan React

Interestingly, Keiser’s comment about XRP has attracted the attention of some big players within the XRP community. Notably, it is not every time Keiser faces criticism from the XRP community. However, this happens only when he does not disparage XRP. 

Earlier this month, XRP community lawyer John Deaton agreed with one of Keiser’s assertions regarding the SEC’s crackdown against crypto. As reported, Keiser explained that the move is the SEC’s effort to eliminate all competitions on behalf of its friends. Reacting to the development, Deaton said he might travel to El Salvador and buy Keiser a drink “now that we agree on something.”

“Keiser’s remark attracted Deaton’s attention. The pro-XRP lawyer agrees with Keiser that the SEC Chair Gary Gensler is protecting the incumbents and the status quo.”

I might have to take a trip to El Salvador 🇸🇻, visit #Bitcoin 🏖️, and buy @maxkeiser a 🥃 now that we agree on… https://t.co/opscEHaIrL

— John E Deaton (@JohnEDeaton1) June 21, 2023

It bears mentioning that Deaton is known for condemning SEC’s harsh regulations against the crypto industry.

Meanwhile, Australian-based lawyer Bill Morgan highlighted the possible reason why Keiser usually applauds the SEC. Reacting to Deaton’s comment, attorney Morgan said Keiser believes Bitcoin will benefit the most from SEC’s enforcement actions.

The problem is that Keiser celebrates and applauds the SEC for this because in his view it is good for Bitcoin https://t.co/d2ru7AlwI1

— bill morgan (@Belisarius2020) June 22, 2023

Interestingly, Ripple CTO David Schwartz further explained Attorney Morgan’s remark.

“Just as [the] government suppressing bitcoin might be good for incumbent banks and non-bank FIs,” said Schwartz.

The Ripple CTO stated that such behavior is despicable and selfish; however, he thinks it is effective.

Just as government suppressing bitcoin might be good for incumbent banks and non-bank FIs. It’s selfish and despicable, but you can’t deny its effectiveness.

— David “JoelKatz” Schwartz (@JoelKatz) June 22, 2023

According to Schwartz, Keiser might defend himself by saying he is a true Bitcoin believer. Consequently, he will not see issues with how he forces his ideologies on others, Schwartz added.

“But of course, bitcoin’s critics will say the same thing. They may even believe it. It’s still cynical paternalism,” he added.

I suppose his defense will be that he really and truly believes that bitcoin is good for people, so it’s okay for him to advocate forcing his judgment on others. But of course bitcoin’s critics will say the same thing. They may even believe it. It’s still cynical paternalism.

— David “JoelKatz” Schwartz (@JoelKatz) June 22, 2023

In response, attorney Deaton said although many Bitcoin maxis claim to be libertarians, they still celebrate SEC’s gross overreach.

What is inconsistent is that so many #BTC Maxis fancy themselves Libertarians and then applaud or celebrate the massive and gross overreach by the SEC. 🤦

— John E Deaton (@JohnEDeaton1) June 22, 2023