U.Today – Vocal supporter and former financial journalist Max Keizer published a tweet criticizing one of the leading altcoins in terms of market capitalization – XRP.
Apart from this, Keiser also revealed why millions of people are converting their fiat money to USDT Tether.
Max Keizer on XRP and Brad Garlinghouse
In a recent tweet, Keizer once again stated that he expects XRP to continue to fall to zero relative to Bitcoin.
He went even further, stating that XRP was created by Brad (Garlinghouse), the CEO, “to steal billions from thoughtless fools.” Keizer chose not to mention that XRP emerged several years before Garlinghouse became CEO of Ripple Labs.
Keizer praises the centralized USDT stablecoin
He then explained why many people convert their fiat coins to USDT, which works on many networks including Tron and , to access banking services. “Millions of people are converting their fiat money to Tether because they don’t have bank accounts or access to banking services,” he wrote on Twitter, and “they use Tether like USD.”
Tether issued $1 billion worth of stablecoins on the Tron network in the last 24 hours. Last year, the company issued 31 billion USDT on both Tron and Ethereum, according to a tweet posted by the @lookonchain analytics X handle.
However, Keiser’s support for Tether can be explained by the fact that Tether has recently started allocating part of its profits to purchasing BTC.
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Keizer believes these actions are killing the US dollar as a global reserve currency “by releasing a fake version that benefits millions and shifting interest from US Treasury bond investments to Bitcoin.”
