- Charles Hoskinson called for unity amid SEC’s regulatory actions.
- The Cardano Founder led by example.
- Charles Hoksinson’s gesture received mixed reactions.
Cardano founder Charles Hoskinson has often made headlines for his controversies. From sparking heated debates between Cardano and Ethereum followers to drawing criticism over his perspectives, the Founder’s takes have frequently landed him in drama. This time, Hoskinson looks to reconcile things with the XRP community.
After further complicating his already contentious reputation within the XRP community in May, Hoskinson is ready to mend bridges with the community, especially now that the crypto sphere is under regulatory fire.
Rippling for Peace
Charles Hoskinson has been in a long-standing feud with the XRP community. The controversy-ridden pundit is no stranger to drawing scrutiny from the XRP community for his views on their case with the US Securities and Exchange Commission (SEC).
However, now with Cardano facing its own regulatory challenges, Hoskinson is interested in patching things up and clearing the air.
In the wake of the recent turmoil caused by the SEC’s lawsuits against major exchanges like Binance and Coinbase, Hoskinson has called upon the “fragmented” crypto community to set aside its differences and unite to set rules and guidelines that could prevent regulatory bodies from abusing their power.
Leading by example, the Cardano founder extended an olive brand to the XRP community, aiming to mend bridges between the two parties. While Hoskinson hoped that his gesture would pave the way for a renewed relationship, he received varying responses from the XRP community.
While some members from the XRP community embraced Charles Hoksinons’s plea for peace amidst the current wave of regulatory challenges, others criticized him for being hypocritical for calling for peace only after the SEC classified ADA as an unregistered security.
Previously, the Cardano founder had vowed never to comment or mention XRP and its ongoing SEC lawsuit following backlash from the XRP community after referring to them as “conspiracy theorists.”
Although Hoskinson publicly stated that he supported XRP and did not believe it was security “in its current form,” he claimed that XRP holders’ theory of the SEC being subject to bribes was nothing short of a “conspiracy.”
While it remains unclear whether Hoskinson would entertain the idea of the SEC being subject to bribery now that Cardano faces similar scrutiny, what is certain is that the SEC’s recent regulatory actions have united the community.
Is the SEC Uniting Crypto?
The SEC’s recent actions targeting Binance and Coinbase and its classification of emerging tokens like Polygon, Solana, and Cardano as unregistered securities have sparked a sense of unity within the community.
After drawing fire from the SEC, Coinbase launched the #StandwithCrypto initiative to show solidarity with the crypto community. The exchange offered commemorative NFTs to users who joined the campaign, resulting in supporters minting over 100,000 NFTs.
On the Flipside
- Cardano Founder Charles Hoskinson believes the SEC’s action against Binance is motivated by a hidden agenda.
- The SEC’s case against Binance and Coinbase sparked a wave of liquidations throughout the market, amounting to $104 million.
Why This Matters
The crackdowns on leading exchanges by the SEC, causing market turmoil in its wake, serve as a reminder that no one is exempt from the regulator’s grip, and it’s high time the community unites against this narrative.
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