In a recent turn of events, Cardano founder Charles Hoskinson revisited his controversial “grand conspiracy” statement made in a 2022 interview, addressing allegations involving Ethereum founder Joseph Lubin bribing the SEC to target Ripple and XRP.
Hoskinson’s Grand Conspiracy Resurfaces
Originally spoken during an interview on Thinking Crypto, the grand conspiracy statement resurfaced after the SEC’s repeated classification of ADA as a security, prompting criticism from Hoskinson.
He expressed frustration with the SEC’s disparate treatment, highlighting the favorable positions of Bitcoin and Ethereum while categorizing other cryptocurrencies, including ADA, as securities.
This resurgence triggered reactions from XRP enthusiasts, who pointed out the irony of Hoskinson’s previous dismissal of their complaints as conspiracy theories. Hoskinson clarified that his initial statement wasn’t about the preferential treatment but rather focused on allegations that Lubin had influenced the SEC to target XRP and Ripple.
Related article: XRP Community and Charles Hoskinson Clash Again: Here’s the Scoop
Hoskinson Acknowledges Ambiguity and Calls for Clarity
XRP YouTuber Moon Lambo challenged Hoskinson’s claim, presenting a transcript of the interview to refute the assertion that he was referring to Ethereum’s co-founder.
In response, Hoskinson acknowledged a lack of precision in his words during the interview, stating, “I could have been more precise with my words during a throwaway interview.”
He emphasized that the persistent focus on the grand conspiracy statement stems from a conflation of two distinct theories – Ethereum’s free pass and Lubin orchestrating the SEC’s actions against Ripple.
Hoskinson clarified that his criticism was directed at certain XRP holders who believed Lubin aimed to boost Ethereum by attacking Ripple.
Will the SEC Take Legal Actions Against Caradano?
As the SEC continues to label ADA as a security for the third time, speculations arise about potential legal actions against Cardano executives. Despite the repeated classification, the SEC has not signaled any intent to charge Cardano with offering ADA as an unregistered security.
Related also: Cardano Gears Up in Consolidation: Is ADA Set for a Rebound?
The regulator remains entangled in a legal battle with Ripple, currently in the remedies stage. The outcome of the Ripple lawsuit will likely shape the SEC’s future actions against crypto projects it deems securities, adding further complexity to the regulatory landscape.
Amid these developments, the crypto community awaits clarity on the regulatory stance towards Cardano and other projects in the ever-evolving cryptocurrency space.
