The belief that the U.S. SEC was compromised by Ethereum insiders to launch an attack on Ripple and XRP has recently resurfaced in the XRP community courtesy of a crypto influencer Stefan Huber. Cardano founder Charles Hoskinson whose old comment regarding the XRP lawsuit was mentioned in the Monday thread remarked that the XRP community manipulated his statement beyond recognition.
It is not new that some XRP proponents including Huber believe that the XRP lawsuit filed against the San Francisco-based crypto solutions company Ripple by the SEC in December 2020 was fueled by some ETH proponents close to the securities agency. Huber drew attention to the fact that Ether which possesses the same characteristics as XRP was deemed a non-security by a former senior officer of the SEC William Hinman in 2018. Whereas the same agency claims XRP, the sixth largest crypto by market capitalization is a security.
Per a Monday Twitter thread, he wrote, “It is a ridiculous idea to claim Hinman’s speech on Ethereum was pure coincidence. But anyone who claims that this scandal is just an absurd conspiracy must believe Hinman’s policy and Clayton’s backing was a mere happenstance. Which again is just a ridiculous idea.”
Going further, Huber recalled a remark made by Charles Hoskinson about the XRP lawsuit during an interview session with Tony Edwards, the host of the Thinking Crypto show, implying that the ADA creator misfired. He added, “[Charles Hoskinson] said, It’s an absurd conspiracy theory because it’s just normal that the asset with the most powerful backers got a free pass. Which basically is the very conspiracy we point at.”
Cardano Founder Insists XRP Community is Manipulating His Remark
The outspoken Cardano founder quickly responded to Huber’s narrative, insisting that the U.S. SEC was not bribed to attack XRP and Ripple. He added that this has always been his stance on the matter.
To clear the air, Hoskinson restated the old comment he made about the SEC’s court battle with Ripple and two of its executives Brad Garlinghouse and Chris Larsen. According to him, there is no corruption between the SEC and Ethereum. The XRP community is only creating a conspiracy theory and manipulating his remark into a lie beyond what he can recognize, he implied.
In addition, he noted that the SEC has in recent years launched attacks on several crypto projects and companies including Coinbase. Responding to Huber, he wrote. “I said the concept that the entire SEC is united against ripple by bribes frEthereumeum insiders is a conspiracy. Given that now Coinbase, Kraken, Bittrex, Tron, and dozens of others have been hit, it seems more accurate than ever.”
“That was my statement. It’s always been my statement. The XRP community has manipulated it to a lie that is beyond recognition. They now mock and hate me. I stand by my original statement. There is nothing more to say on this topic,” he added.
I said the concept that the entire SEC is united against ripple by bribes from ethereum insiders is a conspiracy. Given that now Coinbase, Kraken, Bittrex, Tron, and dozens of others have been hit, it seems more accurate then ever
— Charles Hoskinson (@IOHK_Charles) May 8, 2023
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