Ripple CTO and Cardano Executives Insult Each Other Over ‘ETHGate’ and More
Journalist
- Discussion between Ripple’s David Schwartz and Cardano’s Charles Hoskinson about Ethereum’s regulatory implications.
- The “ETHgate controversy” questions the SEC’s preference for Ethereum.
A recent battle of the crypto titans pitted Ripple CTO David Schwartz against Cardano CEO David Ayala. [ADA] Charles Hoskinson sparked a heated debate about the fate of Ripple’s XRP.
The heated discussion delved deeply into the conspiracy allegations surrounding Ethereum [ETH] Community influence on regulatory action against XRP.
Hoskinson first addressed claims that the Ethereum community had influence over XRP rules.
This unexpected move caused a stir and hinted at possible preferential treatment of Ethereum by the SEC.
Hoskinson vehemently denied these claims, stating that there was no concrete evidence to support such claims.
War of words
Schwartz, on the other hand, criticized Hokskinson’s comments and raised possible financial interests in Ethereum by William Hinman, a former SEC official.
He said
“So, wasn’t Hinman closely involved?” He had no financial interest in Ethereum. Did he recuse himself? “Or is it not proof for some other reason?”
Hoskinson, in no uncertain terms, accused Schwartz of spreading false and misleading information.
Source: Charles Hoskinson/Twitter
Steven Nerayoff noted that he was concerned about this.
What is not plausible is to say that there is no connection between the huge disparity in the SEC’s treatment of Ethereum and Ripple.
Previous cases
This is not a first debate.
Schwartz and Hoskinson had previously clashed over the interpretation of remarks by William Hinman, a former SEC official. This sparked the so-called ETHgate controversy.
The main focus of the debate is on claims that Ethereum influenced regulatory decisions regarding Ripple’s XRP.
These remarks laid the groundwork for the current dispute between Ethereum and Ripple and gave rise to the question: what is the root cause of this dispute? What impact will the “ETHgate controversy” have on crypto regulation?
Source: David ”JoelKatz” Schwartz/ Twitter
An X user named @TheFATEof2021 who also expressed similar views.
Twitter: Source: Crypto is No Conspiracy News
Altcoins Price
It is noteworthy that despite ongoing disputes, the price of XRP and ADA has not changed directly.
XRP is up 2.15% since the last update. ADA is up 1.08%. ETH, on the other hand, seemed to be in a downtrend, with a 0.32% decline in the last 24 hours.
While the outcome of the dispute is still uncertain, the potential impact of the dispute on the future of cryptocurrency remains unclear.
