Cardano

David

Billion

The crypto community is witnessing a virtual showdown between Cardano Founder, <a href="https://bitcoinist.com/cardano-leadership-shakeup-charles-hoskinson/">Charles Hoskinson</a> and Ripple’s Chief Technology Officer (CTO), <a href="https://bitcoinist.com/one-project-man-ripple-cto-clarifies-where-his-loyalty-lays/">David Schwartz</a>. The two crypto giants are clashing over Ripple’s present regulatory challenges and the allegations surrounding the <a href="https://bitcoinist.com/ethereum-watchdog-sues-sec-over-eth-gate/">ETH Gate</a>.&nbsp;&nbsp; 
<h2 id="hoskinson-and-schwartz-embark-on-heated-debate">Hoskinson And Schwartz Embark On Heated Debate</h2> 
Tensions have flared up within the crypto community as Hoskinson and Schwartz engaged in a <a href="https://www.newsbtc.com/news/eth-gate-conversation-intensifies-after-ripple-cto-and-cardano-founder-debate/" rel="nofollow noopener" target="_blank">fiery debate</a> over allegations of conspiracy within the Ethereum community and <a href="https://bitcoinist.com/xrp-lawsuit-sec-counters-ripple-motion-to-strike/">Ripple’s ongoing legal battle</a> with the United States Securities and Exchange Commission (SEC).&nbsp; 
The controversy had begun when Hoskinson had publicly addressed rumors which claimed that the <a href="https://bitcoinist.com/ethereum-insider-ripple-lawsuit-part-bigger-plan/">Ethereum community had influenced the regulatory decisions </a>of the Ripple case by allegedly bribing the SEC to go after XRP. The Cardano founder had vehemently dismissed these allegations as unfounded conspiracy theories lacking credible evidence.&nbsp; 
In a swift rebuttal, Schwartz <a href="https://x.com/joelkatz/status/1784680727742963831?s=46" rel="nofollow" target="_blank">raised questions </a>about a potential conflict of interest involving <a href="https://bitcoinist.com/xrp-army-clues-hinman-ethereum-free-pass-ripple/">William Hinman</a>, the former director of the US SEC. The Ripple CTO had implied that Hinman, having financial interests in Ethereum and recusing himself, may have swayed regulatory decisions in favor of Ethereum, potentially impacting the litigation against Ripple.&nbsp; 
“Aren’t the conventional ETH Gate arguments precisely about how it came to be that the SEC drew and interpreted the line in such a way that ETH was on the good side of it and XRP was on the bad side?” Schwartz inquired.&nbsp; 
<h2 id="cardano-founder-faces-backlash-from-xrp-community">Cardano Founder Faces Backlash From XRP Community</h2> 
In a subsequent post, Hoskinson <a href="https://x.com/iohk_charles/status/1784683970745213000?s=46" rel="nofollow" target="_blank">criticized</a> Schwartz for purportedly spreading false information regarding allegations about an Ethereum community’s influence on Ripple’s legal battle with the <a href="https://bitcoinist.com/ethereum-insider-sec-completely-rogue/">US SEC</a>. He clarified that he had never taken a stance on the rumors and arguments related to the ETH Gate, rather his statements have consistently revolved around the belief that someone within the <a href="https://www.newsbtc.com/news/ethereum/cardano-founder-ethgate-ethereum/" rel="nofollow noopener" target="_blank">Ethereum community had bribed the SEC to target XRP.&nbsp;</a> 
Responding to Hoskinson’s comment, an XRP supporter and crypto member <a href="https://x.com/quadjacksxrp/status/1784685849776468169?s=46" rel="nofollow" target="_blank">accused</a> the Cardano founder of constantly using a preface in his posts to elicit sympathy rather than directly addressing the main problem. The member had also suggested that Hoskinson often portrays himself as a victim within the crypto community while refusing to change his opinions. 
Related Reading: <a href="https://bitcoinist.com/cardano-ada-whales-13-84-billion/">Cardano Roars Back To Life As ADA Whales Move $13.84 Billion</a> 
Following this, Hoskinson challenged the XRP supporter, using explicit language to demand proof that supports the claims that a member of the <a href="https://www.newsbtc.com/news/ethereum/ethereum-whale-4-5-million-burn/" rel="nofollow noopener" target="_blank">Ethereum community</a> had directly influenced the legal proceedings of the Ripple and SEC case.&nbsp; 
Another community member also <a href="https://x.com/johnlen90858595/status/1784430057177432525?s=46" rel="nofollow" target="_blank">accused</a> Hoskinson of misspeaking and misrepresenting the <a href="https://www.newsbtc.com/analysis/xrp/xrp-community-and-cardano-founder-engage-in-heated-clash/" rel="nofollow noopener" target="_blank">allegations made by the XRP community</a>. The XRP supporter criticized the Cardano founder for aggravating the issues by insulting the XRP community and Schwartz, while simultaneously adopting a “narcissistic victim” stance.&nbsp; 
Hoskinson defended his position, <a href="https://x.com/iohk_charles/status/1784433766615646407?s=46" rel="nofollow" target="_blank">asserting</a> that he did not misspeak, and solidified his belief that allegations involving the Ethereum community bribing the SEC were and “has always been a conspiracy theory.”&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/xkRycGK7/" alt="ADA price chart from Tradingview.com (Ripple CTO Cardano founder)" width="3286" height="1530">

Cardano Founder And Ripple CTO Go Head To Head Over XRP Regulations And ETHGate Allegations

Table of Contents

Bitcoinist

Other articles published on May 1, 2024

Dogecoin (DOGE) Lead Dev Issues Crucial Warning Ahead of Wallet Shutdown

Pepe Price Prediction: PEPE Plummets 8% As Investors Flock To This Multi-Chain Dogecoin Derivativ...

EigenLayer sees over 12,000 queued withdrawals — How far will TVL fall?

The best crypto apps for beginners in 2024

New AI Meme Coin Presale WienerAI Unveils Trading Bot AI Companion, Laps Up $700K

DeFi lender Pike Finance loses $1.9M to two hacks in less than a week

Join our free newsletter for daily crypto updates!