Cardano Founder Questions SEC’s Treatment of Ethereum
In a recent AMA session on X (formerly Twitter), Charles Hoskinson, the founder of Cardano and a co-founder of Ethereum, discussed rumors suggesting that the US Securities and Exchange Commission (SEC) had given Ethereum preferential treatment. Hoskinson stated that the leaked Himman emails and other revelations indicate that the SEC applied regulations unevenly, showing favoritism towards Ethereum. He clarified that he does not believe there was corruption involved, but rather a biased approach.
Possible Bias in Hoskinson’s Statement
Given Hoskinson’s past involvement with Ethereum and his exit from the team due to differing views on its management, some speculate that there may be bias in his statement. Critics suggest that Hoskinson’s loyalty to Ethereum could have influenced his opinion on the matter.
Divided Opinions within the Crypto Community
While some individuals in the crypto community supported Hoskinson’s claims, arguing that favoritism can be seen as a form of corruption, others criticized his statement. They emphasized that when a government agency is involved, there is little distinction between favoritism and corruption. Some even suggested that Hoskinson himself might have been involved in the scandal.
Revelations of Close Ties between SEC and Ethereum
The leaked emails also revealed close interactions between SEC official Bill Hinman and Vitalik Buterin, co-founder of Ethereum, before Hinman made a speech stating that ETH was not a security. This raises concerns about potential influence on Hinman’s decision-making process.
Corruption Allegations Supported by Evidence
Steven Nerayoff, an active participant in Ethereum’s ICO, continues to allege corruption within the SEC’s dealings with Ethereum. He claims to have evidence to support his claims. Pro-XRP legal expert John Deaton has also confirmed Nerayoff’s allegations based on attorney-client communications.
Hot Take: SEC’s Handling of Ethereum Raises Questions
The leaked emails and allegations of favoritism towards Ethereum have raised concerns about the SEC’s handling of cryptocurrencies. While some argue that favoritism is not necessarily corruption, others believe that it compromises the agency’s ability to regulate fairly. The upcoming cross-examination of Bill Hinman in the SEC’s case against Ripple may shed further light on these allegations and their implications for the crypto industry.
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