Cardano Founder Hoskinson Draws Fire for Bold XRP Comments

Published: May 9, 2023 │ 4:30 PM GMT

• The feud between XRP and Hoskinson has been going on for years. 
• In the latest battle, XRP supporters targeted Charles Hoskinson for his views on the ongoing XRP lawsuit. 
• The Cardano Founder stood his ground and retaliated against the XRP community. 

Cardano Founder Charles Hoskinson is no stranger to controversy within the crypto community. From sparking heated debates between Cardano and Ethereum followers to drawing scrutiny over the EUTXO model, Hoskinson’s takes have frequently landed him amid the drama. 

In the latest episode, Hoskinson’s past comments on the ongoing XRP lawsuit have returned to haunt him, further complicating his already contentious reputation within the XRP community. 

XRP Conspiracy Theory

On Monday, May 8, pseudonymous crypto sleuth Mr. Huber took a shot at Hoskinson for previously dismissing “conspiracy theories” about Ethereum insiders bribing the Security and Exchange Committee (SEC). 

The online personality contented that it was a “ridiculous idea” to claim former SEC Director William Hinman’s infamous speech on Ethereum, where he declared the asset as “sufficiently decentralized,” was a pure coincidence. 

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.

— Mr. Huber🔥🦅🔥 (@Leerzeit) May 8, 2023

To which the Cardano Founder retaliated, noting that the allegations of the SEC targetting XRP because of bribes were inaccurate. He added that recent regulatory actions against Coinbase, Kraken, and more took away the legitimacy of those claims. 

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

This led to Hoskinson reigniting tensions with the XRP community, with some users arguing that the controversy-ridden founder pushed a self-serving narrative by labeling the conjecture as a “conspiracy theory.” 

In response to XRP supporters, Hoskinson asserted that the XRP community manipulated his words into a “lie beyond recognition” and that he stood by his original statement. 

Although intense, this isn’t the first time Hoskinson has come at odds with the XRP community. The two parties have a long-standing feud, with Hoskinson claiming to have been “viciously attacked” by XRP supporters. 

Bad Blood

Interestingly, Hoskinson broke his silence by replying to Mr. Huber’s tweet. The Cardano Founder had previously vowed never to comment or mention XRP and its ongoing lawsuit after drawing fire from the XRP community for his comments on a public forum in December 2022. 

Hoskinson posted a video claiming that he supported XRP and did not believe it was security “in its current form.” However, XRP holders’ theory of the lawsuit being subject to bribes was nothing short of a “conspiracy.” 

He claimed that Ethereum was treated differently by the SEC because of its “size, scale, and scope” and not money. Later in the video, he asserted that he wouldn’t talk about XRP in any circumstance, even after the case had been resolved. The Cardano Founder promised to reply with “no comment” to anything related to XRP. 

The subject matter couldn’t keep the rowdy founder from chiming in, who is currently in a lot of heat for his comments. 

On the Flipside

• An Ethereum co-founder recently accused Charles Hoskinson of contributing nothing to Ethereum. 
• In a recent hearing, SEC Chairperson Gary Gensler struggled to answer whether Ethereum should be considered a security or a commodity. 

Why You Should Care

Given the hostility between the two parties, it’s unsure when this feud will end. However, conspiracy or not, the ongoing XRP-SEC lawsuit will decide the fate of cryptocurrencies in the US. Charles Hoskinson’s comments on the matter can affect the morale of XRP supporters. However, this doesn’t mean XRP supporters can attack the founder online for having an opinion. 

Catch up on the SEC v Ripple case: 

Ripple CEO: $200M Spent in Legal Battle Against the SEC 

Read what Warren Buffet has to say about Crypto investors:  

Warren Buffett Shames Crypto Investors at Berkshire Hathaway