- Cardano founder, and the XRP community are at loggerheads.
- Charles Hoskinson calls their argument about the SEC a grand conspiracy.
- He believes the entire XRP affair shouldn’t have happened because it is terrible for the industry.
Charles Hoskinson, the founder of Cardano, slips into a contentious argument with the Ripple (XRP) community over its protracted legal battle with the US Securities and Exchange Commission.
Supporters of XRP previously argued that William Hinman, a former director at the SEC, had a conflict of interest with Ethereum authorities while in office. And according to reports, Hinman held more meetings with them than with representatives from other crypto startups.
Consequently, the Cardano founder postulated that the accusations of XRP are false, describing the claims as a grand conspiracy, in a podcast on Friday. In his words:
The XRP community tried to invent this grand conspiracy that there was blatant corruption between the insiders at the SEC and Ethereum. I don’t honestly think that that’s the issue here.
These comments did not sit well with the XRP community. A user, @digitalassetbuy, commented that they think Hoskinson “is a good guy,” but his opinion on the current XRP matter is wrong. The user noted that they are open to discussion about which parts are conspiracy and which are facts.
In a 16-part Twitter thread early today, the Cardano founder registered displeasure about how the crypto community reacted to his statement. He argued again that “analyzing the allegations of corruption seems to imply that Ethereum should also be sued by the SEC but wasn’t because of relationships.”
Recently, the most surprising thing to me has been how hard I'm being hit by some on the XRP side for my recent comments on their SEC issues. I've always been of two minds here and I guess some nuance is required to explain, which the internet always lacks (1/16)— Charles Hoskinson (@IOHK_Charles) October 8, 2022
Additionally, he believes the entire XRP affair shouldn’t have happened because it is terrible for the industry and that regulation through enforcement is equally harmful. He also blamed the legislative arm of the government for gross negligence in passing new laws to resolve the consequences of new technology.
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