Cardano (ADA) Founder Clarifies Stance on Ripple’s XRP Controversy

• Charles Hoskinson, the creator of Cardano, has recently weighed in on the ongoing controversy involving Ripple and its digital asset, XRP, providing clarity and perspective on the matter.
• The discussion arose when Hoskinson was prompted to issue an apology to the Ripple team and the XRP community, citing instances of his statements being misconstrued and enduring prolonged public scrutiny and harassment.
• At the heart of the issue lies a conspiracy theory implicating the SEC in showing preferential treatment toward Ethereum over Ripple, allegations which Hoskinson has adamantly dismissed.

Cardano’s creator, Charles Hoskinson, provides insights into the Ripple-XRP controversy, dismissing allegations of SEC’s preferential treatment towards Ethereum.

Hoskinson’s Apology to Ripple and XRP Community

Charles Hoskinson was prompted to issue an apology to the Ripple team and the XRP community after his statements were misconstrued, leading to prolonged public scrutiny and harassment. He faced calls for legal repercussions based on unsubstantiated allegations of corruption, which he firmly denied.

Allegations of SEC’s Preferential Treatment

The crux of the controversy is a conspiracy theory implicating the SEC in showing preferential treatment toward Ethereum over Ripple. Hoskinson has adamantly dismissed these allegations, labeling them as unfounded speculations lacking credible evidence. He underscored Ethereum’s modest beginnings as an $18 million initial coin offering, suggesting that any regulatory leniency during its nascent stages may have been influenced by undisclosed factors.

Hoskinson Rejects Notion of Ethereum Orchestrating SEC Actions

Despite acknowledging the regulatory disparities between Ethereum and Ripple, Hoskinson firmly rejected the notion of Ethereum orchestrating SEC actions against Ripple and XRP. He emphasized the distinct operational domains of the two entities, asserting that they do not directly compete in the same smart contract space.

Hoskinson’s Perspective Informed by Past Involvement with Ethereum

Worth noting that Hoskinson’s perspective on the matter is informed not only by his role as the creator of Cardano but also by his previous involvement with Ethereum. In late 2013, Charles Hoskinson became one of the five original founders of the Ethereum team alongside Vitalik Buterin. Consequently, in 2014, Buterin and the Ethereum team made the decision to remove Hoskinson from his position within the organization.

Conclusion

In conclusion, while Hoskinson acknowledges the regulatory disparities between Ethereum and Ripple, he firmly dismisses the conspiracy theories implicating Ethereum in orchestrating SEC actions against Ripple and XRP. His insights provide a fresh perspective on the ongoing controversy, offering readers a clearer understanding of the complexities involved in the crypto regulatory landscape.