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Cardano Founder Debunks XRP Conspiracy Theories in AMA

Hoskinson, Cardano founder, debunks XRP conspiracy theories, urging rational debate and clarity in the crypto community's discussions.
Cardano Founder Debunks XRP Conspiracy Theories in AMA

Highlights

  • Hoskinson debunks XRP theories and urges evidence-based SEC debate.
  • ADA holds at $0.63 amid calls for clarity in crypto regulation.
  • Ripple faces legal uncertainties as Hoskinson seeks rational discourse.

In a recent Ask Me Anything (AMA) session, Charles Hoskinson, the founder of the Cardano, expressed his disapproval of the conspiracy theories rampant in the current XRP community. His narrative was intended to clear claims that the supporters of Ethereum had influenced SEC proceedings against XRP. Hoskinson’s plea for informed debate signifies a milestone in the discussions that continue to rage within the crypto industry.

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Cardano Founder Urges for a Rational Debate

Hoskinson stressed rational discourse and evidence in the discussion of the actions of the SEC against XRP in the AMA. He pointed out an absence of any proof from the XRP community that would confirm the undue influence of the Ethereum backers on the SEC’s actions.

 “There is no evidence, XRP community. Zero evidence that someone paid the US government to target you,” he explained, denoting the unsubstantiated nature of such conspiracy theories.

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The #ETHGate Misunderstanding

Hoskinson also cleared up his thoughts about the #ETHGate controversy, which was a point of misunderstanding between him and the XRP community. He said that his statement on the matter had been misunderstood, pointing out that while it is conceivable that somebody could have influenced the SEC, there is no proof of this leading to XRP being targeted by the regulatory body. 

His concern with asking these theories is to change the conversation into more productive dialogues regarding the regulation of cryptocurrency and innovation.

Aiming to dissociate from the earlier XRP and Ripple debates, the recent Hoskinson statements represent another attempt at constructive dialogue. He has repeatedly called on the leaders of Ripple to deal with and repudiate the groundless attacks from these conspiracy theories. This method highlights his wish to go beyond the antagonisms that have characterized relations of some factions in the crypto community.

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Cardano and XRP Trend

Similarly, while Cardano’s ADA stagnates around the $0.63 mark, Hoskinson’s criticism of the XRP community conspiracy theories comes when the cryptocurrency market strives for clarity and predictability. The speed of the Cardano network’s development and its power to distinguish itself is under question. ADA was trading at $0.6334 at press time, a 1.69% surge from the day’s low.

However, XRP faces issues with the ongoing class action appeal process and major exchange-related lawsuits. This vagueness of the laws also affects the investor perception and market dynamics of both cryptocurrencies.

Read Also: Meet PolkaBot AI: Polkadot’s ChatGPT Challenger

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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