- As a former Ethereum co-founder, Hoskinson highlighted personal connections and informal agreements as possible factors in regulatory leniency.
- The controversy highlights the importance of factual dialogue in the blockchain industry, rather than speculative and unfounded accusations.
Charles Hoskinson, founder of Cardano, recently addressed questions surrounding the controversy involving Ripple and its crypto, XRP. The situation arose from a demand that Hoskinson apologize to both the Ripple team and the XRP user community.Â
He responded by explaining that his previous statements had been misinterpreted, which led to prolonged public criticism and even calls for legal action against him based on accusations without evidence.
Why? They misrepresented my statements, publicly harassed me for years, and even advocated that I be thrown in prison for unspecified "corruption"
— Charles Hoskinson (@IOHK_Charles) May 5, 2024
The controversy includes a theory that the U.S. Securities and Exchange Commission (SEC) favored Ethereum over Ripple in its regulatory stance. Hoskinson has refuted this theory, describing it as baseless and lacking solid proof. He pointed out Ethereum’s origin as an $18 million initial coin offering, hinting that its early regulatory treatment might have been swayed by personal connections and informal agreements.
Hoskinson also noted the distinct differences between Ethereum and Ripple, emphasizing that they operate in separate realms of the smart contract market and are not direct competitors.
His insights are shaped by his experience as both the creator of Cardano and a former founding member of Ethereum. He joined the Ethereum project in late 2013 but was removed from the team by Vitalik Buterin and others in 2014.
Read more: Cardano (ADA): Scaling Heights Post-Bitcoin Halving – What’s the Peak?
This discussion sheds light on the complexities of blockchain regulation and the intricate dynamics within leading cryptocurrency projects. Hoskinson’s comments aim to clarify the misunderstandings and refocus the community’s attention on factual and productive discussions rather than speculative accusations.
Cardano (ADA) is currently trading at $0.4605 USD, with a 24-hour range of $0.45372 to $0.463592 USD.
Key Data:
- 52-Week High: $0.806985 USD
- 52-Week Low: $0.230420 USD
- Market Cap: $16.418B USD
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