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05/03/2024

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Charles Hoskinson Replies to Michael Saylor's Speech on Calling ETH, XRP, Others Securities

Charles Hoskinson, the founder of Cardano and the co-founder of the Ethereum network has replied to Micheal Saylor’s comment where he called Ethereum, XRP, and other altcoins unregistered securities....

Charles Hoskinson Replies to Michael Saylor's Speech on Calling ETH, XRP, Others Securities

Charles Hoskinson, the founder of Cardano and the co-founder of the Ethereum network has replied to Micheal Saylor’s comment where he called Ethereum, XRP, and other altcoins unregistered securities. Hoskinson took to his X account (formerly Twitter) to respond to the MicroStrategy founder with a dark irony.

Michael Sylor Labels Ethereum, XRP, BNB, Cardano, and Solana as Securities

In a recent update, Michael Saylor, the co-founder of business intelligence firm, MicroStrategy took direct shots at top altcoins Ethereum, XRP, BNB, Cardano (ADA), and Solana (SOL). While delivering his speech at the Bitcoin for Corporations 2024 event, the prominent figure said that he anticipates ETH, the second-largest cryptocurrency by market cap, to be labeled as a security by the SEC this summer.

Additionally, he stated that the other aforementioned tokens will also be declared unregistered securities by the regulatory watchdog. Furthermore, Saylor made it clear that he doesn’t think Wall Street companies will ever be interested in these altcoins. The Bitcoin advocate predicted that they will never be approved for spot ETFs. He delivered the speech during the mentioned event that happened on the first and second of May.

💥NEW: Ethereum, BNB, Solana, Ripple, Cardano will be deemed a securities this summer and will never be accepted by Wall Street- Michael Saylor pic.twitter.com/1N2phnj6hI

— Radar🚨 (@RadarHits) May 3, 2024

“None of them will ever be wrapped by a spot ETF, none of them will be accepted by Wall Street, none of them will be accepted by mainstream institutional investors as crypto assets,” he said while pointing to Bitcoin as the “one universal and consensus-accepted institutional-grade crypto asset in the world.”

Meanwhile, the speech from Saylor didn’t go down well among members of the crypto community. One person who shared a particularly different view is Charles Hoskinson. Taking to his X account, Hoskinson replied to Michael Saylor’s speech by playing a short conversation scenario among Bitcoiners and Bitcoin Maximalists.

In his tweet, Hoskinson spotted how Bitcoiners always accuse him of taking shots at Bitcoin meanwhile it is the proponents of Bitcoin maximalism that constantly assert that “virtually everything except Bitcoin is illegal and a scam.”

Bitcoiners: "Why is Charles attacking Bitcoin? Altcoiners are so Toxic."

Bitcoin Maxi's: "Literally everything but Bitcoin is illegal and a scam" https://t.co/Fd0fYyLWjn

— Charles Hoskinson (@IOHK_Charles) May 3, 2024

However, it is important to note that the fate of the above-mentioned tokens, being classified as securities or not, is in the jurisdiction of the court and no other. Michael Saylor’s comments are solely his opinion and should not be taken as fact.

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