Key Takeaways:
Charles Hoskinson, the founder of the Cardano (ADA) blockchain, has sparked excitement within the crypto community after praising Ripple (XRP) CEO Brad Garlinghouse, calling him a “great CEO” while describing their interaction as “extremely collaborative” in a subsequent post made on X.
The positive public interaction by both founders has fueled speculation that Cardano and Ripple could form a strategic partnership. Hoskinson’s latest comments align with the growing call from industry players to work together towards the market’s benefit.
Cardano And Ripple Founders Call For Consistent Crypto Regulations
In an X post, Ripple’s Brad Garlinghouse agreed with the narrative, stating that it was time for the crypto community to unite and push for a “level playing field” with clearer and consistent regulatory guidelines. He suggested that collaborative efforts would be uplifting and beneficial to the whole sector.
The message of unity comes at a time when regulatory pressures and market challenges continue to mount in the crypto industry. Ripple has been embroiled in a long-standing lawsuit with the U.S. Securities and Exchange Commission (SEC), which could have massive implications for the industry.
Meanwhile, Hoskinson’s support of Ripple is a notable change in his perspective, as he has previously been heavily critical of the XRP token and its issuer’s approach towards blockchain technology and cryptocurrencies.
However, his new stance welcomed mixed reactions from the community, with some encouraged by the potential for cooperation, while others want to remain cautious.
Both Cardano and Ripple have varying focuses, with the former implementing a research-driven development model and layered blockchain architecture, while the latter is focused on cross-border payments. Together, the two decentralized protocols could complement each other well.
Blockchain Veteran Accuses Charles Hoskinson of “Damage Control”
There is strong criticism against the potential collaboration between Cardano and Ripple. Blockchain veteran Steven Nerayoff aimed criticism at Hoskinson, who is also the co-founder of Ethereum (ETH), alleging that his comments might be politically motivated and he was engaging in “damage control” rather than genuinely supporting the Ripple blockchain and the XRP community.
Nerayoff spoke of years of perceived hostility from the Cardano founder towards Ripple and questioned the timing of his supportive attitude. The blockchain expert claims that Hoskinson’s remarks are a “sudden patriotic pivot” lacking authenticity while suggesting that he is motivated by self-interest rather than a true desire to support the well-being of the industry.
He also pointed out past controversies Hoskinson was entangled in like the “ETHGate”, which is a conspiracy involving members of the Ethereum Foundation and its associates who maintained close ties with key officials at the U.S. Securities and Exchange Commission (SEC) to secure favorable regulatory treatment for Ethereum. The theory gained traction within the XRP community because they felt like the financial watchdog took stringent action against Ripple Labs regarding its native token while Ethereum remained unscathed.
Nerayoff said he believes the Cardano founder may be attempting to whitewash negative narratives from the past to produce a clean image for the crypto community.
Trump-Appointed SEC Chairman Could Implement Pro-Crypto Policies
U.S. President-elect Donald Trump is set to give the boot to current SEC chairman Gary Gensler, which may lead to new developments in the ongoing SEC vs Ripple legal battle. Gensler was known for his aggressive policies against crypto-related firms, of which many industry players are victims, including leading trading platforms like Coinbase, Binance, and Uniswap.
A leadership change at the SEC could influence the Ripple case and even result in the establishment of more crypto-friendly policies from the regulator. Experts speculate that a new SEC chair might ease regulatory pressures against Ripple, aligning with Charles Hoskinson and Brad Garlinghouse’s shared vision for a more unified industry-wide regulatory regime.
At the time of writing, Ripple (XRP) is trading at $0.6688 – up 1.05% in the last 24 hours, while Cardano (XRP) is changing hands at $0.5382 – down nearly 15% from its previous day’s price.
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