Recently, Charles Hoskinson, the famous Blockchain entrepreneur and the mastermind behind Cardano (ADA), took an unexpectedly long line regarding Ethereum’s connection with the US Securities and Exchange Commission (SEC) and their alleged involvement in a conspiracy against Ripple and XRP. has become involved in a long-standing debate. Here are the details…
Cardano founder entered the ETH debate
The controversy first sparked when Steven Nerayoff, an early advisor to the Ethereum (ETH) network, claimed that a trumped-up lawsuit was filed against him due to his intimate knowledge of the early days of Ethereum and its initial coin offering (ICO). He alleged that people associated with the SEC, the Department of Justice, the FBI, and even Ripple were involved in this complex web of intrigue.
Hoskinson, known for his candid commentary on the blockchain industry, has added perspective to this topic based on his in-depth study of the field. Recalling Ethereum’s humble beginnings as an $18 million ICO, he emphasized that during its nascent period, the SEC ignored Ethereum’s activities and allowed it to develop unchecked.
Hoskinson points to regulatory leniency
But Hoskinson went further to suggest that personal relationships and behind-the-scenes agreements may have played an important role in this regulatory leniency. While this statement raises eyebrows within the crypto community, it underscores the complex dynamics that underpin regulatory decisions in the Blockchain space. Notably, Hoskinson flatly rejected the idea that Ethereum bribed the SEC to target Ripple and XRP. He pointed out a fundamental fact: Ripple and Ethereum operate in different sectors of the cryptocurrency space, making them non-competitors by design.
The crypto community is eagerly awaiting further developments from this emerging debate. Steven Nerayoff, who won his legal battle over these allegations, has signaled that he intends to disclose more about what he knows. However, he also emphasized his determination to follow appropriate procedures, stating that his actions were motivated by a desire to serve the interests of justice and the public. While the crypto world watches and speculates, questions surrounding Ethereum, the SEC, and the alleged conspiracy against Ripple and XRP continue to loom large.
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