Founder of the Cardano DeFi project, Charles Hoskinson, is now at the center of criticism for his comments on the current lawsuit involving Ripple and the US Securities and Exchange Commission.
One of the main comments that he is facing backlash for is that he prompted XRP fans to not spread conspiracy theories about the current case. He made the comments in an October 21 interview with BitBoy Crypto, a YouTube channel on the video-sharing platform.
He also stated that the cryptocurrency firm is currently under investigations by the Securities and Exchange Commission due to inadequate regulation, for which he was heavily criticized on Twitter.
Hoskinson Accuses XRP Community of Spreading Conspiracy Theories
One of the conspiracy theories that Hoskinson is accusing the XRP community of spreading is that former SEC officials are involved in corruption. They’re also accusing the agency of favoring Ethereum at the cost of other alternatives.
As Hoskinson is one of the co-founders of Ethereum, XRP proponents are accusing him of siding with the securities agency. Because of this, he was particularly angry with the CTO of Ripple, David Schwartz.
He expressed his anger at the CTO, who expressed that he had much to say about the verbal attack on the Cardano founder. On Twitter, Hoskinson said that he was disappointed with Schwartz and stated that the XRP community shouldn’t be conspirational.
Hoskinson Asks XRP Community to ‘Build Bridges’
Based on the Twitter thread, Hoskinson was receiving unwarranted negativity from XRP proponents when he was only asking the community to focus on elements that could help Ripple win the case.
Based on reports by Finbold, Hoskinson addressed the tweets and clarified the intent behind his statements after getting a wave of verbal attacks from the XRP community.
He also explained that his views on the Ripple versus SEC lawsuit are based on his experience in the digital asset space, especially with regard to policy.
His argument is that Ripple shouldn’t weaponize the SEC because the firm will still have to work with the agency after the case is over. In the long run, openly coming out against the SEC could have dire consequences for Ripple and the entire network.
Major Win for Ripple after Acquisition of Hinman Emails
A crucial aspect of the case is how it relies on the emails of William Hinman, the former Division Director of the US Securities and Exchange Commission. One document in particular is the leading piece of evidence that could help Ripple in winning the case.
It is a draft of his 2018 speech in which he stated that top-ranking cryptos Bitcoin and Ethereum aren’t securities because they are ‘sufficiently decentralized.’
Despite the SEC’s attempt to prevent Ripple from accessing the documents, the judge overruled their efforts, giving Ripple a win in the ongoing battle.