June 21, 2024

Cardano founder and Ethereum co-founder Charles Hoskinson recently stated that there’s no proof of Ethereum bribing SEC against XRPHoskinson made the statement while reacting to the documents of William Hinman’s controversial remark on crypto assets.

Hinman’s Speech Proves Favoritism, Not Corruption

During a recent AMA session, Hoskinson analyzed underlying motives regarding Hinman’s controversial speech. Based on his result, he concluded  that the speech was a pure indication of favoritism rather than corruption. 

Source: X Platform – @NerdNationUnbox

In his remark, Hoskinson highlighted the relevance of Hinman’s speech in the crypto space. According to the crypto mogul, the controversial documents revealed some hidden agenda regarding the securities regulator. Also, Cardano’s founder denied involvement in the Hinman’s speech scandal.

He stated that his exit from Ethereum was four years long before Hinman gave his remark. Notably, the drafts of Hinman’s speech have been a hugely controversial topic in the SEC vs. Ripple lawsuit. This is because Hinman was the director of SEC’s Corporate Finance during the speech in 2018.

In June, the court ordered the release of the documents following several pushes from Ripple Labs on the motion. The drafts contain important facts that backed Hinman’s infamous speech classifying Bitcoin and Ethereum as non-securities. 

According to the document, Hinman and Vitalik Buterin, Ethereum co-founder, met a week before the speech. The trend of events before and after Hinman’s speech sparked the thoughts of many within the industry on possible corruption.

Some believed that the team behind Ethereum bribed Hinman to create a free pass for ETH. Conversely, Hoskinson strongly argued against such negative hints on the matter. He maintained that the events surrounding the popular speech didn’t poove corruption on the part of Ethereum.

Hoskinson Reactions To ETHGate

ETHGate suggests that Ethereum received favorable regulation from the SEC through an established relationship between the ETH team and the agency’s top officials.

During the AMA session, Hoskinson reacted to the notion of ETHGate, stating that the crypto community has laid out two distinctive opinions.

The first part of the theory is an allegation against Ethereum officials. People believed the team penetrated the SEC’s top official using connections or money to secure a pass for ETH.

The second part of the theory is based on the speculation that the Ethereum team bribed the SEC to crack down on Ripple and its token, XRP.

Hoskinson stated:

These are very different things. It is one thing to use relationships to protect your own thing. It is another thing to use relationships in a conspiracy to attack a competitor.

Additionally, he mentioned that there’s no supporting evidence that the Ethereum team incited SEC’s attack against XRP through a bribe.

Hoskinson said:

You have yet to give any evidence whatsoever that a single meeting has happened where someone from Ethereum bribed or gave money or convinced a member of the SEC to go after XRP.

Hoskinson comments have sparked several reactions within the XRP community. Some members of the community took to X Platform to call out to Cardano’s founder.

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