In a surprising turn of events, Cardano founder Charles Hoskinson has expressed readiness to make peace with the XRP community after they fell out last year. Hoskinson and Ripple’s CTO David Schwartz buried the hatchet following his peace call.
In 2022, Hoskinson criticized the XRP community for being toxic and petty, adding that he had never “encountered a community so willing to viciously attack a person who has not attacked them.” At the time, the Cardano founder said he would no longer discuss Ripple-related subjects.
The major bone of contention between Hoskinson and the XRP community was that a 2018 speech by the former SEC Director William Hinman gave Ethereum a free pass. According to the community, the speech helped ETH gain broader acceptance while other assets, like XRP, struggled with the unfavorable regulatory regime.
Hoskinson argues that the recent anti-crypto moves by the SEC are evidence that the XRP community conspiracies theory was wrong. This response drew strong reactions from the XRP community, which led to Hoskinson blocking several pro-XRP Twitter accounts.
Mixed Reactions Trail Hoskinson’s Peace Offer
Hoskinson’s call for peace has drawn mixed reactions from the XRP community, with many describing it as hypocritical following the SEC’s declaration of ADA as a security.
Last week, the U.S. SEC filed lawsuits against crypto exchanges Binance and Coinbase, charging the exchanges with facilitating the trades of crypto asset securities like ADA. While Cardano Foundation has rejected the security classification, many within the XRP community have given differing views of the asset.
Meanwhile, several others within the XRP community believe the crypto community needs to unite to survive the current regulatory onslaught. A community member Oskar Arnarson said a united crypto front would be “the strongest and most impactful.”
Is the SEC Regulatory Actions Uniting Crypto?
Recent indications suggest the entire crypto community is united in its fight against the SEC, with several crypto stakeholders, like Tron Network founder Justin Sun, supporting Binance and Coinbase.
Pro-crypto lawmakers, like Senator Cynthia Lummis, have heavily criticized the SEC’s enforcement action against the exchanges. Additionally, Senator Bill Hagerty opined that the financial regulator was weaponizing its role to kill an industry.
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