- Charles Hoskinson, Cardano’s founder, reignites contention with the XRP community over the much-debated ETHGate theory.
- XRP supporters retaliate with strong sentiments, intensifying the long-standing feud.
Hoskinson Stirs the Pot Once Again
In the ever-evolving drama between Charles Hoskinson, the mastermind behind Cardano, and the XRP community, the flames have been fanned yet again. Recently, Hoskinson provocatively commented on the ETHGate conspiracy, stating,
“You know my favorite part about the holidays is kicking the XRP ETHGate Hornet’s nest with easy-to-meme sound bites connected to mostly ignored nuanced points. It’s like the first snow of winter.”
You know my favorite part about the holidays is kicking the XRP ETHGate Hornet's nest with easy to meme sound bites connected to mostly ignored nuanced points. It's like the first snow of winter.
— Charles Hoskinson (@IOHK_Charles) October 14, 2023
XRP Community Fires Back
Hoskinson’s remarks, as anticipated, did not sit well with ardent XRP advocates. The backlash was swift and cutting. One perturbed supporter claimed to have divested from Cardano’s ADA due to Hoskinson’s perceived immaturity. Another even suggested legal consequences, saying Hoskinson should face incarceration for any role in ETHGate. High-profile XRP supporter, Ashley Prosper, wasn’t one to hold back either, delivering a sharp counter to Hoskinson’s statement.
My favourite part is where you whine like a baby all day after you kicked the honests nest and got stung. pic.twitter.com/K94PPlIiof
— Ashley PROSPER (@AshleyPROSPER1) October 15, 2023
The Controversial ETHGate Theory Explained
For those unfamiliar with the term, the ETHGate theory is a hot topic that has been the subject of intense scrutiny and debate within the cryptocurrency arena. The theory hinges on allegations that officials from Ethereum curried favor with insiders at the SEC to pave a regulatory gold-path exclusively for Ethereum. This conspiratorial sentiment gained traction after Hoskinson addressed the matter in a public AMA session.
He elaborated that the community seemed divided on the theory’s essence. Some believed Ethereum leveraged insider connections at the SEC to gain a regulatory advantage, while others alleged that Ethereum had, in fact, influenced the SEC to specifically target Ripple and its XRP coin. In responding to these allegations, Hoskinson was clear in his stance, asserting a lack of evidence pointing to Ethereum conspiring with the SEC against Ripple.
A History of Hostility and Accusations
The tiff between Hoskinson and the XRP community is far from new. It originated from accusations by XRP enthusiasts claiming Ethereum manipulated the SEC to level charges against Ripple. The accusation was not taken lightly by Hoskinson, who then labeled these theorists as conspiracy-driven.
As the months rolled on, the tension seemed to reach a boiling point in December 2022, when Hoskinson, weary from the persistent allegations, declared he would refrain from engaging in further XRP discourse. However, a bid for peace in June, following the SEC’s classification of ADA as an unregistered security, was overshadowed by Hoskinson’s frustration towards the XRP community’s insistent linking of him to the ETHGate narrative.
Even as recent events brought this controversy back into the limelight, with many XRP supporters seeking a formal apology from Hoskinson, the rift only seems to widen.
