Cardano Founder: Ripple Does Not Need Financial Assistance in SEC Lawsuit, Its Advocacy for the Clarity Act Is Essentially Just Protecting Its Own Interests

On March 30, Cardano founder Charles Hoskinson responded to criticism from the XRP community regarding his lack of support in the Ripple versus SEC legal case.

Hoskinson emphasized that he had publicly opposed the SEC's decision to sue Ripple and had expressed this stance through multiple interviews and discussions.

He also rebutted some community members who believed that industry leaders in cryptocurrency should provide financial support to Ripple;

He pointed out that Ripple itself, with its large pre-mined XRP tokens, completed the $1.2 billion Hidden Road acquisition.

This shows that Ripple has strong financial independence and does not require financial aid from other blockchain ecosystems.

Hoskinson further questioned Ripple’s industry stance, noting that the support for the Clarity Act is not for the benefit of the entire crypto industry but rather to serve its own interests.

Specifically, the current version of the bill protects Ripple and XRP but exposes small and medium projects to risks, potentially classifying new projects as securities, and forcing open-source developers to face unlimited legal liabilities.

Therefore, if the bill passes in its current form, it could indirectly protect Ripple and XRP while significantly weakening the competitive vitality of new projects in the crypto industry.

The XRP community countered this, questioning why Hoskinson rarely discussed the substantial returns he received from early participation in the Ethereum project’s ICO token distribution.

Some members also accused him of criticizing Ripple out of competitive motives, suggesting that XRP might benefit more from the Clarity Act than ADA.

Hoskinson also expressed concern about the current state of the industry, stating that years of social media hype, exaggerated reports, and polarized narratives have diminished the public’s ability to rationally analyze complex issues, and that the crypto industry is losing the space for meaningful debate.

#Cardano #