The rivalry between Cardano founder Charles Hoskinson and the XRP token holder community has been a hot topic in the crypto world for quite some time. However, there is a possibility that this animosity could be coming to an end. The potential peace offering is even more important as the US Securities and Exchange Commission (SEC) continues to target the cryptocurrency market with lawsuits and regulations.
It’s worth noting that the SEC has categorized multiple top altcoins – including Cardano (ADA), Polygon (MATIC), and Solana (SOL) – as securities. Thus, Cardano shares a common issue with XRP as they face scrutiny from the regulatory body. The pivotal question in the ongoing XRP vs SEC lawsuit is whether or not XRP should be considered a security. Judge Analisa Torres will soon decide on the summary judgment in this case.
In light of the continuous trolling and criticism faced by Hoskinson from the XRP community, the Cardano founder previously cut ties with XRP holders. However, in a recent development, Hoskinson proposed to finally make peace with the community. The response from XRP holders has been generally positive, and they have suggested that Hoskinson could host a Twitter spaces event to make the reconciliation official.
While some community members are open to supporting Hoskinson, others have been critical of Coinbase, claiming that it has done significant damage to the cryptocurrency by not relisting the token on its platform. One such comment stated, “Coinbase is directly responsible for value lost and continues to gatekeep by not relisting XRP.”
The SEC, however, has not escaped the watchful eye of regulators. The regulatory body faced a lawsuit alleging violation of securities laws. This situation prompts the question of whether the US legal system is committed to fostering a crypto-friendly environment or not, despite some politicians vowing to bring cryptocurrency-friendly regulations amid SEC lawsuits.
In conclusion, this potential reconciliation between Cardano founder Charles Hoskinson and the XRP community could be a beneficial turning point in the face of SEC regulations and lawsuits. How these developments unfold will heavily influence the future of both Cardano and XRP, as well as the overall cryptocurrency industry. As always, do your market research before investing in cryptocurrencies, as the personal opinions of any article author cannot guarantee a positive outcome.
Source: Coingape
