Max Keiser, a staunch Bitcoin advocate, has commented on recent Hinman documents that reveal that the former SEC director met with Ethereum co-founder Joseph Lubin before giving a speech implying that Ethereum is not a security.
Keiser called Hinman's letter a "big fiasco" and "pointless" in a statement on Twitter.
Keiser also said that the SEC conversations about Bitcoin between 2013 and 2015 were irrelevant because Bitcoin was beyond their jurisdiction. He claimed that SEC chairman Gary Gensler also acknowledged this fact.
First: As I predicted, the Hinman letter would be a big dud. It’s meaningless https://t.co/0woW26kO77
Next: Any chatter (2013-15) about #Bitcoin from the SEC is meaningless. It’s beyond their reach. Gensler has said this and he’s right.
The SEC will go after *BOTH* ETH & XRP… https://t.co/oR97wNwVlW
— Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) June 25, 2023
However, Keiser suggested that the SEC will pursue both Ethereum and XRP as unregistered securities as part of a "protection move" for banks. He said that the SEC will justify national security and patriotism law if necessary, so the survival of ETH and XRP is unlikely. He also suggested that a lack of liquidity would actually kill these projects.
Keiser also argued that the "code is not a security" argument no longer holds true, and it can be shown that Ripple/XRP is deliberately committing fraud to circumvent regulation.
*Not investment advice.
