‘Shitcoins’ Like ETH, XRP, ADA Used In Terrorist Financing: Max Keiser’s Outrageous Remark Sparks Fury

Bitcoin maximalist and American broadcaster Max Keiser has once again stirred controversy in the crypto space with his latest post on X (formerly Twitter).

Keiser boldly blasted several cryptocurrencies, including Ethereum (ETH), Ripple’s XRP, Cardano (ADA), Binance’s BNB, and others, labelling them as “shitcoins” that are used to finance terrorism.

Bitcoin evangelist Max Keiser has become a controversial figure in the crypto community for his publicized disdain towards altcoins. Keiser oftentimes refers to all coins except Bitcoin as unregistered securities.

In his recent post, the advisor to El Salvador president Nayib Bukele took his criticism to new heights by classifying altcoins as shitcoins.

According to Keiser, ETH, XRP, BNB, ADA, and thousands of other altcoins are developed by people he calls “financial terrorists” and are allegedly used to fund terrorism. Continuing his anti-altcoin tirade, he called for the arrest of crypto pundits like Ripple’s Brad Garlinghouse, Cardano’s Charles Hoskinson, EOS’s Brock Pierce, Ethereum’s Vitalik Buterin, pro-crypto Senator Cynthia Lummis, and others, for their supposed involvement.

As expected, Keiser exempted Bitcoin from his slander, noting that the flagship cryptocurrency is a unique asset with fixed-supply scarcity, designed to annihilate central bankers and corrupt government leaders. “It’s literally God’s money,” Keiser declared.

Max Keiser’s comments sparked a backlash from the crypto community, which responded with justifiable counterarguments.

Popular lawyer Bill Morgan playfully dismissed Keiser’s remarks, positing: “Max is having another Altcoin episode.”

Keiser’s statements have ultimately ignited intense arguments within the cryptoverse, with some maintaining that he has a right to voice his criticism, while others strongly rejected his claims. Crypto’s role in terrorist financing and funding militant groups has long been a subject of interest, and Keiser’s comments have only intensified these discussions.

Meanwhile, U.S. Deputy Treasury Secretary Wally Adeyemo recently stated that crypto assets are still utilized by terrorist groups like Hamas but their use is still quite limited compared to traditional alternatives.