Cardano Founder Hoskinson Speaks Out On Ethereum Insider Revelations

Charles Hoskinson, co-founder of Ethereum and founder of Cardano, responded to the controversial revelations made by former ETH insider Steven Nerayoff. The latter yesterday released private conversations with Ethereum’s founder Vitalik Buterin and a “Rescue & Restructure Plan” for Ethereum dating back to 2015.

In his X post, Nerayoff stated, “The recording isn’t directly related to the fraud but will illuminate a lot of what was really happening & show my involvement. The fraud will be in the lawsuit.” 

The recording isn’t directly related to the fraud but will illuminate a lot of what was really happening & show my involvement.

The fraud will be in the lawsuit.

48-Hour Countdown: Ethereum Insider's Shocking Fraud Expose Looms – Crypto News Flash https://t.co/uvD6PjfcVJ

— Steven Nerayoff (@StevenNerayoff) November 16, 2023

Hoskinson, in a 22-minute video, addressed these revelations and reflected on his own experiences and contributions within the Ethereum ecosystem.

Cardano Founder Responds To Nerayoff

Hoskinson noted his long-standing acquaintance with Nerayoff, stating, “I know Nerayoff for a long time”. He mentioned that Nerayoff was introduced to him by a mutual friend, John Mohan. Recounting their history, Hoskinson shared that their first meeting occurred in 2013, and since then, they have had intermittent conversations.

Reflecting on the early days of Ethereum, the Cardano founder credited Nerayoff with significant contributions, saying, “He came into the Ethereum project and provided a lot of assistance in the early days of the structuring of the Ethereum crowd sale” while he was pushed out of Ethereum. He added that after his departure, “Steven stayed on after I got pushed out of Ethereum, and he provided a lot of advice about business strategy and how to structure Ethereum.”

Hoskinson then addressed the purpose of his video, drawing attention to the Nerayoff document that heavily references him: “Now, the reason I’m making this video is that he made a big deal and talked about this Ethereum Rescue and Restructure plan […] my name is mentioned 69 times.”

Commenting on his experiences, he said, “Now, what’s always interesting about my participation in the Ethereum ecosystem is that a history has been written where three great lies have been told.” These include allegations of his deceitful behavior, claims of non-contribution to the crypto space, and assertions that he overstated his role in Ethereum.

Hoskinson defended his track record, citing the development and success of Cardano and the absence of any legal issues or scandals associated with his work. He also commented on Ethereum’s technical developments, drawing parallels with his own work on Cardano.

Read Also: Cardano Founder Seeks Collaboration With Kraken To Develop The L2 Network

He mentioned, “You see Vitalik recently talking about the merits of extended to UTXO, and in plasma, kind of sounds a little bit like Hydra, doesn’t it?”

He added:

And that’s that. I don’t really know what Steven’s end goal or aims are, obviously, he’s got an agenda, and he’s going to go and pursue that, and Ripple Community is, of course, mad as hell at the whole free pass stuff.

Regarding his departure from Ethereum in June 2014, Hoskinson expressed hope for interoperability and collaboration within the crypto space despite past conflicts. He reflected on the personal toll of the long-standing disputes, stating, “From basically the very beginning, every dimension of me has been attacked…and that does have a psychological impact.”

Hoskinson Shares Advice With Nerayoff

Addressing Nerayoff’s disclosures, Hoskinson urged caution in interpreting these revelations. He highlighted the complexity of the situation and cautioned against making hasty judgments based on partial information. The Cardano founder advised, “Just don’t believe anything because somebody wrote a book or somebody released a transcript that you now know everything and it’s all there.”

Drawing from his own challenging experiences post-Ethereum, he spoke about the importance of reconciliation and moving forward. Hoskinson concluded his remarks with a note of optimism and a call for unity in the crypto community.

He wished Nerayoff well in his search for truth and added, “For everyone’s sake, sometimes it’s good to turn the page and let it go. Anyway, I wish Steven well and his quest for truth, whatever this means to him.”

At press time, ADA traded at $0.362.

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