Cardano Founder Hoskinson’s Take on ETHGate: Unpacking the Allegations

• Charles Hoskinson views the events before Hinman’s speech as evidence of favoritism, not corruption.
• There’s no factual basis proving that Ethereum officials bribed the SEC to target XRP.

In a recent exchange during an AMA, Charles Hoskinson articulated his insights on the matter leading up to Hinman’s notable speech. He believes that the actions don’t signal corruption within the SEC but instead hint at favoritism. Hoskinson stressed the significance of this speech, thinking that its drafts shine a light on the SEC’s internal thought process. This view came in response to the tweet from Hexagon,

Charles says the #HinmanEmails did not prove corruption, just favoritism.#ETHGate @StevenNerayoff pic.twitter.com/93WfI5u6wP

— wEeZiE {X}?FireGaryGensler (@NerdNationUnbox) October 10, 2023

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Earlier, Ripple Labs had disclosed Hinman’s documents in June, succeeding a prolonged legal fight. These records highlighted crucial events that preceded Hinman’s speech, where he classified BTC and ETH as non-securities. An essential revelation was Hinman’s meeting with Ethereum’s co-founder, Vitalik Buterin, merely a week before his pivotal speech. These uncovered details led to rumors suggesting a possible financial incentive for Hinman from the Ethereum team.

Hoskinson’s Stance on ETHGate Allegations

As the topic of ETHGate arose, Hoskinson delineated his understanding. He emphasized that the crypto community seems to be merging two distinct discussions. On one end, there’s the speculation that Ethereum officials might have leveraged personal ties or financial means to gain a softer stance from SEC towards ETH. Conversely, a portion of the XRP community theorizes that ETHGate is about Ethereum’s team influencing the SEC to challenge XRP and Ripple directly. Drawing a distinction, Hoskinson commented, “It’s one facet to utilize connections for your benefit, but an entirely different scenario if you employ these ties in a plot against a rival.”

Challenging the Ethereum vs. XRP Narrative

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Setting the record straight, Hoskinson highlighted the lack of tangible evidence that points towards Ethereum’s officials influencing the SEC to target XRP. “There’s an absence of any credible proof indicating a meeting where Ethereum’s representatives might have financially influenced or persuaded an SEC member to challenge XRP,” reiterated Hoskinson, who also happens to be a co-founder of Ethereum.

Community’s Response to Hoskinson’s Remarks

Previously, members from the XRP community had taken issue with Hoskinson for labeling their allegations as elaborate conspiracies. His recent insights have similarly sparked a heated response from the community, with many voicing their disagreements on X (previously known as Twitter). Nonetheless, Hoskinson firmly dismissed any association with the Hinman speech debacle, pointing out that he had parted ways with Ethereum four years prior to the said contentious comments.

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