Bank

Sharp

Bitcoin

when

Few comments spark debate across the crypto landscape like an outright accusation of fraud. When a seasoned financial analyst brands a top-ten cryptocurrency “the biggest scam in history,” it forces market participants to question both the technology and the narratives surrounding it.&nbsp;
That is exactly the kind of reaction Rajat Soni, CFA, provoked when he aimed Ripple’s XRP.
<h2 id="b-rajat-soni-s-sharp-critique-b">Rajat Soni’s Sharp Critique</h2>
On X, Soni challenged XRP’s core value proposition, arguing that <a href="https://timestabloid.com/this-bitcoin-maxi-says-xrp-is-the-crypto-for-the-retarded-heres-why/" rel="noopener noreferrer nofollow">anyone who believes banks will adopt the token should “get yourself checked out.”</a> His critique stems from a staunch Bitcoin-maximalist perspective: that digital assets other than Bitcoin—particularly those launched by private companies—are mere speculative instruments.
<blockquote class="twitter-tweet">
 If you own XRP and you truly think it's going to be used by banks, get yourself checked out for brain damage
 XRP is the biggest scam in history <a href="https://t.co/2bYXz2C2b9" rel="noopener noreferrer nofollow">https://t.co/2bYXz2C2b9</a> <a href="https://t.co/KZbrRv6Q8v" rel="noopener noreferrer nofollow">pic.twitter.com/KZbrRv6Q8v</a>
 — Rajat Soni, CFA (@rajatsonifnance) <a href="https://twitter.com/rajatsonifnance/status/1970574528905671159?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 23, 2025</a>
</blockquote>

Soni also highlighted a historical anomaly within the XRP Ledger, noting that <a href="https://timestabloid.com/ripple-cto-clarifies-loss-of-32000-early-xrp-ledger-blocks/" rel="noopener noreferrer nofollow">ledgers numbered 1 through 32,569 were lost in the project’s earliest days</a>. As a result, public records begin only from ledger 32,570, a fact acknowledged in XRPL’s own documentation and often cited by skeptics as evidence of a flawed foundation.
<h2 id="b-the-banking-adoption-debate-b">The Banking Adoption Debate</h2>
Ripple, the company closely associated with XRP, has long promoted its token as a bridge asset for cross-border payments. Ripple’s ODL platform utilizes XRP to facilitate fast and efficient cross-border transactions between fiat currencies, with proven success in regions such as Asia and Latin America.
However, major global banks typically choose Ripple’s enterprise software without integrating XRP itself. Santander’s One Pay FX, for example, leverages Ripple’s messaging technology but relies on traditional fiat rails rather than the cryptocurrency. This distinction undercuts the narrative that banks will universally embrace XRP for liquidity.
<blockquote class="twitter-tweet">
 We are on X, follow us to connect with us :- <a href="https://twitter.com/TimesTabloid1?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@TimesTabloid1</a>
 — TimesTabloid (@TimesTabloid1) <a href="https://twitter.com/TimesTabloid1/status/1934162718258499855?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 15, 2025</a>
</blockquote>

<h2 id="b-a-mixed-reality-beneath-the-headlines-b">A Mixed Reality Beneath the Headlines</h2>
While Soni dismisses XRP as a “scam,” the on-chain evidence shows a more complex picture. <a href="https://timestabloid.com/ripple-cto-clears-air-about-early-xrp-ledger-transaction-loss/" rel="noopener noreferrer nofollow">The ledger’s missing early records are an undeniable blemish</a>, yet the network has operated reliably from ledger 32,570 onward.&nbsp;
Furthermore, specialized payment providers and remittance firms continue to use XRP for specific corridors where speed and cost efficiencies justify the token’s volatility risk.
<h2 id="b-final-analysis-b">Final Analysis</h2>
Rajat Soni’s warning is a stark reminder that investors should distinguish between bold marketing claims and verifiable adoption. XRP powers real payment flows in limited contexts, but widespread bank usage remains unproven, more than a decade after its launch.&nbsp;
Whether one agrees with Soni’s <a href="https://timestabloid.com/analyst-calls-xrp-biggest-financial-scam-ripple-cto-responds/" rel="noopener noreferrer nofollow">“biggest scam” label</a> or not, his challenge underscores the need for due diligence, independent audits, and hard evidence before treating any cryptocurrency as institutional plumbing.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on<a href="https://twitter.com/TimesTabloid1" rel="noopener noreferrer nofollow"> Twitter</a>,<a href="https://www.facebook.com/timestabloid/" rel="noopener noreferrer nofollow"> Facebook</a>,<a href="https://t.me/markettabloid" rel="noopener noreferrer nofollow"> Telegram</a>, and<a href="https://news.google.com/publications/CAAqLAgKIiZDQklTRmdnTWFoSUtFSFJwYldWemRHRmliRzlwWkM1amIyMG9BQVAB?hl=en-US&amp;gl=US&amp;ceid=US%3Aen" rel="noopener noreferrer nofollow"> Google News</a>
The post <a href="https://timestabloid.com/bitcoin-maxi-xrp-is-the-biggest-scam-in-history-no-bank-will-use-it/" rel="noopener noreferrer nofollow">Bitcoin Maxi: XRP Is the Biggest Scam in History. No Bank Will Use It</a> appeared first on <a href="https://timestabloid.com" rel="noopener noreferrer nofollow">Times Tabloid</a>.

Bitcoin Maxi: XRP Is the Biggest Scam in History. No Bank Will Use It

Table of Contents

Times Tabloid

Other articles published on Sep 25, 2025

Bitget Launches Industry-First Unified Account Covering Four Major Blockchains

Forknet Mainnet is LIVE: Revolutionizing DeFi with L2 Power and Unmatched Liquidity (25 Sep)

Shiba Inu Shows Resilience Amid Market Decline

Cloudflare Announces Launch of NET Dollar Stablecoin

India Blockchain Month 2025: Regulatory Clarity Tops Agenda in Delhi

Crypto Worth $1.12B Liquidated as Market Goes Red

Join our free newsletter for daily crypto updates!