Experienced Name of the Finance Industry Speaks for That Altcoin: “It’s Nothing More Than a Scam!”

0

Rejat Soni, one of the experienced names in the finance industry, XRP He attracted attention with his post claiming that the token was a scam. Soni is also known as a Bitcoin maximalist.

One of Rejat Soni’s arguments consists of the ‘false’ claim that Ripple Labs developed the XRP token. According to Soni, the token continues to become centralized day by day. It also claims that 80% of the token’s circulating supply is controlled by Ripple Labs. However, it is known that this claim is not true.

Soni further claimed that Ripple company has the right to change the codes of XRP and can print more tokens with this right. Not content with these claims, Soni added that a harsh pressure from the USA against the token would make the token unusable.

According to Soni, the proof of the last claim is the falling XRP price after the SEC’s lawsuit against Ripple. Although this information is partially true, the token is still actively used and supported by the community. Although the token also has problems in the USA, it is taking steps to increase its availability globally. The token is recognized as a licensed digital asset in countries such as Japan and Dubai.

Pro-XRP lawyer Bill Morgan harshly criticized Soni’s claims and called all the claims false. commented.

Famous crypto writer Panos Mekras expressed dismay at Rajat Soni’s apparent lack of basic research skills despite having a CFA designation and a decade of experience in finance. Mekras went on to share a topic he wrote in 2018 to give Soni fact-based education about the token.


source site-8