Charles Hoskinson, the creator of Cardano (ADA), recently addressed the ongoing debate surrounding him, XRP, and its parent company Ripple. His comments aimed to provide a clearer perspective on the situation between him and the XRP community and dispel any misconceptions.
Hoskinson and the XRP community have been at loggerheads for a long time. Recently, the debate around ETH Gate, a conspiracy theory alleging the SEC’s preferential treatment of Ethereum over Ripple, renewed tensions between both parties. Hoskinson has firmly rejected such claims, calling them unsubstantiated speculation.
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In 2020, The SEC filed a lawsuit against Ripple and its executives, claiming that XRP sales were unregistered securities offerings and that its executives aided these sales. Many XRP community members are convinced that Ethereum received a free pass from the regulator.
Hoskinson’s Stance on ETH Gate
Hoskinson acknowledged that Ethereum’s initial coin offering (ICO) was relatively small, raising only $18 million. However, he avoided making claims about the reasons behind potential regulatory leniency during Ethereum’s early stages.
While recognizing the regulatory differences between Ethereum and Ripple, Hoskinson maintained that Ethereum played no role in influencing the SEC’s actions against Ripple and XRP. He emphasized the distinct functionalities of both platforms, pointing out that they don’t directly compete in the smart contract space.
Hoskinson’s unique perspective on this issue could have been shaped by his involvement in both Cardano and Ethereum. He was one of Ethereum’s five co-founders. However, in 2014, he was removed from the organization.
The XRP-faithful have consistently pushed the ETH Gate theory while fighting the SEC in the infamous XRP lawsuit. However, none of the claims have been definitively proven.
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Hoskinson Says No to Peace
Recently, an XRP community member called for Hoskinson to apologize to Ripple and the XRP community. He countered the request by highlighting that the parties involved misinterpreted his past statements, leading to harassment, accusations of corruption, and calls for him to be imprisoned over the alleged corruption. These allegations, he stressed, lacked any basis in evidence.
From the response, his stance has not changed, and both parties are likely to continue their heated exchanges. This rivalry could also extend beyond ETH Gate if it is ever proven or disproven, as in February, Hoskinson stated that the XRP community is not ready for peace.
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