Cardano Founder Weighs in on Controversial Hinman Speech
In an AMA session, Charles Hoskinson, the founder of Cardano, discussed the controversial drafts of William Hinman’s speech on Ethereum. He acknowledged the value of obtaining these documents to expose the SEC’s thought process and unequal application of the law. However, he emphasized that this does not necessarily imply corruption but rather favoritism.
The Hinman Documents and Ripple Labs
Ripple Labs brought attention to Hinman’s documents during their legal battle with the SEC. These papers revealed the events leading up to Hinman’s statement that Bitcoin and Ethereum should not be considered securities. One point of contention was Hinman’s meeting with Ethereum co-founder Vitalik Buterin a week before the speech. This raised speculation about Ethereum’s influence on Hinman’s stance.
Financial Ties and Regulatory Oversight
Hinman’s association with law firm Simpson Thacher, which is part of the Enterprise Ethereum Alliance, added complexity to the situation. Although he left the firm when appointed as Director of Corporation Finance at the SEC, records show he continued to receive financial benefits from them. This raised concerns about potential conflicts of interest given his role at the SEC overseeing cryptocurrencies.
Hoskinson’s Perspective on Favoritism vs. Corruption
Hoskinson maintains that while these events indicate favoritism, they do not prove corruption. He responds to allegations surrounding “ETH Gate,” where Ethereum may have used its connections with the SEC for leniency. Hoskinson clarifies that protecting one’s interests is different from conspiring against a competitor.
No Evidence of Ethereum Bribing the SEC
Hoskinson is skeptical about claims that Ethereum undermined XRP through SEC manipulation. He challenges critics to provide evidence of Ethereum bribing or influencing the SEC against XRP. It’s important to note that Hoskinson was a former co-founder of Ethereum.
Hot Take: Hoskinson Stands Firm on Ethereum’s Integrity
Charles Hoskinson remains steadfast in his belief that Ethereum did not engage in corrupt practices with the SEC. While favoritism may be evident, there is no concrete evidence of bribery or manipulation. These discussions have sparked debates among XRP supporters on social media platforms.
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