CryptoMediaClub
Thursday, July 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Ethereum

Ripple CTO slams Charles Hoskinson over SEC’s ETH ‘favoritism’

13.10.2023
A A
0
125
VIEWS
ShareShare

Ripple chief technology officer David Schwartz has countered the Cardano founder’s comments about possible motives behind the United States regulators’ determination that Ether (ETH) is not a security.

Cardano founder Charles Hoskinson addressed the much-debated ETHgate theory in an AMA session on Oct. 8, arguing that the government’s actions were not about corruption.

ETHgate is a conspiracy theory alleging that Ethereum received a free pass from U.S. regulators, particularly the U.S. Securities and Exchange Commission (SEC), which has been reiterating its stance that ETH isn’t a security for years.

Despite SEC director William Hinman defining Ether as not a security in 2018, U.S. regulators have been struggling to establish the status of other coins, including XRP (XRP), which has created significant impediments to their adoption.

According to Hoskinson, Hinman’s speech drafts on the regulatory status of Ethereum — which were released in June 2023 — do not prove corruption but favoritism.

“None of that activity presupposes corruption, just favoritism,” Hoskinson argued in the AMA, adding that “this is how the internet works, and it can’t be fixed now.”

The Cardano founder emphasized that there has been no evidence proving anything apart from favoritism by the SEC. “What evidence do you have of that? Where are the emails? Where are the meetings?” Hoskinson asked. He also argued that XRP serves different customers, doesn’t even have smart contracts and has an entirely different business model. He added:

“Doesn’t that dilute your entire goal of making Ethereum not a security to also do that? Are you so scared of XRP that’s going to happen? You really believe that? If you do, you’re a crazy person in my book.”

Hoskinson’s fresh ETHgate-related remarks have quickly triggered a response from the XRP community, particularly executives like XRP chief technology Schwartz. The XRP community specifically clashed with Hoskinson over the definition of corruption.

“I would argue that a government actor showing favoritism aligned with the personal interests of themselves and their friends is corruption,” Schwartz wrote on X (formerly Twitter) on Oct. 12.

“So saying word ‘corruption’ in much polite way is ‘favoritism’,” one commenter stated on X.

Related: Sam Bankman-Fried just like Bernie Madoff, Cardano founder says

Some community members also alleged that Hoskinson’s questions about ETHgate evidence might be related to the fact that he allegedly has a lot to hide about his early days in Ethereum.

Apart from his role at Cardano, Hoskinson is also one of the eight Ethereum co-founders alongside Vitalik Buterin and even briefly held the position of Ethereum’s CEO between 2013 and 2014. Following a public fall-out between the co-founders, Hoskinson left Ethereum in 2014 to subsequently launch Cardano.

Magazine: Blockchain detectives — Mt. Gox collapse saw birth of Chainalysis

Share10Tweet6ShareSharePin2

Related Posts

ProShares announces launch of short Ether-linked ETF
Ethereum

ProShares announces launch of short Ether-linked ETF

02.11.2023
0

ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2.ProShares’s new...

Read moreDetails
Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

02.11.2023
Top Swiss bank launches Bitcoin and Ether trading with SEBA

Top Swiss bank launches Bitcoin and Ether trading with SEBA

02.11.2023
Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

02.11.2023
3 reasons why Ethereum price is down against Bitcoin

3 reasons why Ethereum price is down against Bitcoin

02.11.2023
Load More
Next Post
Bitcoin price gets new $25K target as SEC decision day boosts GBTC

Bitcoin price gets new $25K target as SEC decision day boosts GBTC

4 1 vote
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

ZK-proof Web3 infrastructure developer gets backing from Binance Labs

ZK-proof Web3 infrastructure developer gets backing from Binance Labs

2 years ago

Missed $PEPE or $WIF? Snorter Helps You Win the Meme Coin Game – ICO Hits $900K 

3 weeks ago
Crypto Market Update: SHIB, PEPE, and Litecoin

Crypto Market Update: SHIB, PEPE, and Litecoin

2 years ago
Crypto payment firm Alchemy Pay wins money transmitter license in US

Crypto payment firm Alchemy Pay wins money transmitter license in US

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Regulated Euro-Pegged Stablecoin to Be Issued in Germany

Hackers Steal $180M from Brazilian Banking System in Largest-Ever Attack, Cash Out via Bitcoin and USDT

Crypto Fear & Greed Index Soars to 73: Unpacking the Market’s Bullish Confidence

Arthur Hayes says US banks may unlock $6.8 trillion T-bill buying power through stablecoins

Stablecoin Revenue Soars: Companies Post Massive $10 Billion Annual Earnings

Trending

Tether Targets South America’s Surplus Power for Low-Carbon Bitcoin Mining – But Will Volatility Bite?
All news

Tether Targets South America’s Surplus Power for Low-Carbon Bitcoin Mining – But Will Volatility Bite?

03.07.2025
0

Tether and Adecoagro have signed a memorandum of understanding to explore a joint Bitcoin mining project using...

Stable Launches World’s First Blockchain for Stablecoins

Stable Launches World’s First Blockchain for Stablecoins

03.07.2025
Looking for the Best Crypto to Buy Now? SpacePay Might Be the Top Pick for 2025, Presale Still Ongoing

Looking for the Best Crypto to Buy Now? SpacePay Might Be the Top Pick for 2025, Presale Still Ongoing

03.07.2025
Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

Hancom With Pioneers RWA Space with Gold-Backed Stablecoin

03.07.2025
Regulated Euro-Pegged Stablecoin to Be Issued in Germany

Regulated Euro-Pegged Stablecoin to Be Issued in Germany

03.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz