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This Is What Could Reduce Ripple's Chances of Winning Against SEC, According to Cardano Founder

10 Oct, 20222 min readRegulation
This Is What Could Reduce Ripple's Chances of Winning Against SEC, According to Cardano Founder

Cardano founder Charles Hoskinson recently took to Twitter to opine that targeting the U.S. Securities and Exchange Commission with unsubstantiated corruption allegations could actually reduce Ripple’s chances of winning against the regulator.

In his response to attorney John Deaton, Hoskinson opined that discussions about corruption will have no impact on the court’s decision regarding XRP’s regulatory status. “It's a completely separate matter and should be treated as such,” Hoskinson said.

As reported by U.Today, Hoskinson recently riled up the XRP Army by describing their corruption allegations against former top SEC official Willian Hinman as “a grand conspiracy theory.”

In turn, some XRP fans started tweeting about “digging dirt” on Hoskinson, accusing him of being in cahoots with the Ethereum Foundation. This prompted the Cardano co-founder to state that he wanted nothing to do with Ripple or the XRP community after facing relentless attacks that the cryptocurrency mogul described as “sad” and “shameful.”

Ripple co-founder Chris Larsen praised Hoskinson for his contribution to the cryptocurrency space.

The SEC took Ripple to court in December 2020 over unregistered XRP sales.

Hinman’s Ethereum speech, in which the former SEC official said that the cryptocurrency wasn’t a security, led to accusations of unfair regulatory treatment.

As reported by U.Today, Ripple CEO Brad Garlinghouse has steered clear of peddling conspiracy theories about the SEC. However, he did say that the timing of the lawsuit was “suspicious” in one of his interviews.

The closely-watched legal battle is inching closer to a resolution, with both parties recently filing motions for summary judgment.

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