“XRP is pre-mined security,” says Max Keizer despite Ripple’s SEC victory.

Recently, Ripple, a San Francisco-based cross-border payment cryptocurrency, has declared victory in its legal battle with the US SEC. After nearly four years of legal disputes between regulators and Ripple, the lawsuit was shut down, the SEC reduced appeals, Ripple was fined $125 million, and XRP was recognized as non-security.

However, Ripple’s cross-appeal is still pending, and the cryptocurrency market will be able to hear more about this legal battle. But most of the time, it’s over.

For some supporters of cryptocurrencies, especially Bitcoin, there is nothing legally that XRP is not security. For example, Max Keizer, one of the oldest Bitcoin evangelists, is pre-mined security, as he called it in a recent post.

Trigger was the news that the SEC confirmed that BTC and other cryptocurrencies that they are working on the Proof of Work Consensus are not securities. “And the pre-negative ETH & XRP is 100% securities,” Keizer commented on the statement.

XRP, decentralization, ripples

It is worth saying that Bitcoin Maxi is not alone in his view, as the fact that Ripple still has over 37 billion XRP is a strong argument to call security and alternative cryptocurrencies as well as pre-mined assets.

There are a lot of 37 billion XRP. It’s literally equivalent to $883.9 billion. For example, the market capitalization of coins in circulation is $1384.1 billion.

So yes, despite the company’s plans to gradually release that volume to the market, more than a third of all XRPs are controlled by Ripple, and that fact alone is sufficient to cast a shadow over the decentralized nature of Keizer’s XRP.