Cardano founder Charles Hoskinson recently shut down the ongoing controversy surrounding Ripple and its associated digital asset, XRP. The Cardano creator in a post on X replied to a community member who urged him to apologize to the Ripple team and community.
Cardano Founder Claims His Words Were Misrepresented
In a swift reaction, Hoskinson maintained his statements were misconstrued while he was publicly harassed.
According to him, “They misrepresented my statements … and even advocated that I be thrown in prison for unspecified ‘corruption’.”
A conspiracy theory that alleged that the U.S. Securities and Exchange Commission (SEC) favored Ethereum over Ripple is fueling the controversy. Those fanning the flames of the conspiracy, claim that Ethereum’s earlier regulatory treatment was influenced by undisclosed factors such as personal connections and informal agreements.
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
However, The Cardano founder has consistently rejected these claims. He denounces them as groundless speculations lacking credible evidence. One thing though is clear, predicting the SEC is difficult as they recently delayed a decision on the proposed 7RCC Spot Bitcoin ETF.
Ripple and Ethereum Conspiracy Theories
The Cardano founder, while referencing Ethereum’s early development as an $18 million initial coin offering, acknowledged that its regulatory environment at the time might have been shaped by various factors.
He vehemently rejected any implication of Ethereum orchestrating SEC actions against Ripple and XRP. The Cardano creator also emphasized that the two entities do not compete directly in the same smart contract space.
Analysts say Hoskinson’s position as one of the founders of Ethereum, along with Vitalik Buterin, positions him to provide context. This is because he understands both sides of the evolving crypto industry. The Cardano creator, in 2013 was one of the foundational members. However, by 2014, Buterin and other early developers eased him out of the team.
Although Hoskinson attempted to clarify the issue, the ongoing legal battle and uncertainty regarding XRP’s regulatory status persist. Meanwhile, Michael Saylor stirred up controversy recently when he stated that XRP and other altcoins are “securities.”
He noted that they will never ETF gain approval.
