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The security status of XRP is under fresh scrutiny again as Jason McCabe Calacanis from the All-In Podcast stirred conversation on X. According to Jason, the fact that XRP is a centrally controlled security is no longer a question for anyone. This statement triggered a response from John Deaton, who offered to sit out and explain things to Jason.
Renewed XRP securities claim
According to Calacanis, almost every crypto OG he has talked to considers XRP the opposite of Bitcoin. He claims that if the U.S. Securities and Exchange Commission (SEC) permits the trading of XRP ETF, then securities law would be worthless.
Alex DovbnyaWhile not naming Ripple Labs, he said startups and funds may start dumping 50% of the token they own on retail investors, offsetting the U.S. capital market. According to Calcanis, this would offer a bad outlook as the world trusts in the American financial system.
Responding to these claims, John Deaton said he would happily educate Calcanis based on his involvement with XRP. He raised the point of owning 80% of his net worth in Bitcoin and fighting for XRP holders in the Ripple vs. SEC lawsuit as the basis for the insights he is willing to share.
However, he claims Jason may also maintain his stance about XRP unchallenged, a sign of bias against the coin.
Issue with Bitcoin maxis
It is worth noting that since the prospect of a national digital asset stockpile emerged, XRP has been in the crosshairs with most Bitcoin maxis. As reported earlier by U.Today, Samson Mow, a top Bitcoin advocate, recently shared many reasons to criticize XRP.
Some are convinced that Ripple Labs once demarketed Bitcoin to favor its crypto payment platform. Bitcoin maxis believe XRP does not deserve to be added to the Bitcoin reserve, and any National Digital Asset stockpile is being planned by the current administration.
Dan Burgin
Vladislav Sopov