Cardano creator Charles Hoskinson has denied any involvement in the controversial “Ether speech” that suggested Ethereum (ETH) received favorable treatment from regulators.
Recall that Empower Oversight, an anti-corruption watchdog, unveiled new documents that shed light on the involvement of Joseph Lubin, an Ethereum co-founder, in the drafting process of the controversial William Hinman speech.
Charles Hoskinson Denies Involvement
The speech, given by former SEC Director of Corporation Finance William Hinman in 2018, stated that Ethereum should not be classified as a security. However, some have alleged that Hoskinson may have been involved in drafting the speech, or that he had prior knowledge of its contents.
Hoskinson has denied these allegations, stating that he had no involvement in the speech and that he only learned of its contents after it was released to the public. He also pointed out that the speech was given long after he had left Ethereum.
In response to the allegation, Charles Hoskinson wrote, “Why do you guys CC on the Ethereum stuff? I left in June of 2014. All of the emails and other relevant artifacts were from 2018 and beyond. It was literally years after they burned me, tarred and feathered my reputation, and Cardano launched.”
Why do you guys CC on the Ethereum stuff? I left in June of 2014. All of the emails and other relevant artifacts were from 2018 and beyond. It was literally years after they burned me, tarred and feathered my reputation, and Cardano launched.
You got beef with Uncle Joe not…
— Charles Hoskinson (@IOHK_Charles) August 3, 2023
It remains to be seen whether the allegations against Hoskinson will have any lasting impact on Cardano. However, the developers’ firm behind the crypto project often makes its clear that it’s committed to transparency and compliance with all applicable regulations.
Cardano (ADA) Faces Possible Dislisting on Coinbase
As reported a couple of hours by TimesTabloid, Coinbase, the largest US-based crypto exchange, is considering the possibility of delisting Cardano (ADA) and 12 other crypto exchanges from its trading platform due to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC).
The SEC lawsuit alleges that these tokens, which form a small fraction of the 240 assets available on the platform, are unregistered securities.
Brian Armstrong, the CEO of Coinbase made this known in an interview with the Financial Times. However, the CEO described the likelihood of delisting as the worst-case scenario, but it has since sent a negative signal to the Cardano community and the ADA market.
At the time of filing this report, ADA is trading at $0.2919, with a slight change in price over the last 24 hours, according to CoinMarketCap.