Charles Hoskinson, the founder of the Cardano blockchain, responded to recent claims about Cardano being too centralized. Critics said only three organizations control Cardano: the Cardano Foundation, Hoskinson’s company IOG, and Emurgo. They argued this makes Cardano inferior to Bitcoin, which they believe no single group controls.
Hoskinson rejected these accusations in a tweet. He stated critics often spread misinformation about Cardano, creating fear, uncertainty, and doubt. He expects critics to continue this behavior for many years. Hoskinson added that fighting this misinformation takes time and costs millions of dollars.
Hoskinson Praises XRP as “Great Technology”
Recently, Charles Hoskinson surprised many by praising XRP, another cryptocurrency. Hoskinson called XRP “great technology” and a potential global standard. He made this comment after former U.S. President Donald Trump mentioned several cryptocurrencies, including XRP and Cardano’s ADA, as potential currencies the U.S. government could hold.
David Schwartz, Ripple’s Chief Technology Officer, expressed surprise at Hoskinson’s praise. Schwartz tweeted, “Am I dreaming?!” Hoskinson replied, stating he respects XRP because it survived many challenges over the past decade. He also acknowledged XRP’s strong and committed community.
Hoskinson explained he had studied XRP’s code and protocol. This review increased his appreciation for XRP and Schwartz’s technical leadership.
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Charles Hoskinson Criticizes SEC’s Regulatory Actions
Hoskinson recently made headlines by declaring that the “war on digital assets” in the United States is over. He criticized the U.S. Securities and Exchange Commission (SEC) for its aggressive actions toward cryptocurrency businesses. According to Hoskinson, these actions damaged the crypto industry permanently.
Hoskinson believes the SEC unfairly targeted many crypto companies. These legal actions cost companies millions of dollars and led to billions in lost value. He stated the SEC went beyond its authority and caused unnecessary harm to crypto projects.
Hoskinson argued that some SEC officials pursued these actions to gain promotions and higher positions. He accused career government employees of damaging crypto projects without accountability. Hoskinson described this situation as unfair, saying these officials would “dance on the bankrupt graves of our projects.”
Many crypto enthusiasts and industry members supported Hoskinson. They argued the SEC’s tough regulations hurt innovation and trust in blockchain technology.
However, others disagreed with Hoskinson’s views. Specifically, critics argued that the SEC was fulfilling its duty to protect investors from fraud and maintain market stability. Moreover, they believe strong regulations help protect digital assets and ensure the industry’s future.
