Cardano founder and Ethereum co-founder Charles Hoskinson recently stated that there is no evidence of Ethereum Bribes SEC for XRP. Hoskinson made the statement while reacting to documents on William Hinman’s controversial remark on crypto assets.
Hinman’s Speech Proves Favoritism, Not Corruption
At a recent AMA session, Hoskinson analyzed the motivations behind Hinman’s controversial speech. Based on its result, he concluded that the speech was a pure indication of favoritism rather than corruption.
Charles says that #HinmanEmails didn’t prove corruption, just favoritism.#ETHGate @StevenNerayoff pic.twitter.com/93WfI5u6wP
– wEeZiE {X}💭FireGaryGensler (@NerdNationUnbox) October 10, 2023
Source: Platform X – @NerdNationUnbox
In his remark, Hoskinson highlighted the relevance of Hinman’s speech in the crypto space. According to the crypto mogul, the controversial documents revealed hidden agendas regarding the securities regulator. Also, the founder of Cardano denied involvement in the Hinman speech scandal.
He said his exit from Ethereum was four years in the making before Hinman made his remark. Notably, the draft versions of Hinman’s speech have been an extremely controversial topic in the SEC vs. Ripple trial. Indeed, Hinman was the SEC’s Director of Corporate Finance during the 2018 speech.
In June, the court ordered the release of the documents following multiple pressures from Ripple Labs on the motion. The projects contain important facts that support Hinman’s infamous speech classifying Bitcoin and Ethereum as non-securities.
According to the document, Hinman and Vitalik Buterin, co-founder of Ethereum, met a week before the speech. The trend of events before and after Hinman’s speech, many in the industry pondered possible corruption.
Some believed that the team behind Ethereum bribed Hinman to create a free pass for ETH. Conversely, Hoskinson strongly objected to such negative allusions on the subject. He argued that the events surrounding the popular speech did not foster corruption on the part of Ethereum.
Hoskinson’s reactions to ETHGate
ETHGate suggests that Ethereum received favorable regulation from the SEC thanks to an established relationship between the ETH team and senior agency officials.
During the AMA sessionHoskinson reacted to the notion of ETHGate, stating that the crypto community has expressed two distinct opinions.
Charles says that #HinmanEmails didn’t prove corruption, just favoritism.#ETHGate @StevenNerayoff pic.twitter.com/93WfI5u6wP
– wEeZiE {X}💭FireGaryGensler (@NerdNationUnbox) October 10, 2023
The first part of the theory is an allegation against those responsible for Ethereum. People thought the team had reached the top of the SEC official using connections or money to get a pass for ETH.
The second part of the theory is based on speculation that the Ethereum team bribed the SEC to crack down on Ripple and its token, XRP.
Hoskinson said:
“They are very different things. It’s one thing to use your connections to protect your own business. It’s another to use relationships as part of a plot to attack a competitor.»
Additionally, he mentioned that there was no evidence to support that the Ethereum team induced the SEC to attack XRP through a bribe.
Hoskinson said:
“You have yet to provide any evidence that a single meeting took place where someone from Ethereum bribed or gave money to or convinced a member of the SEC to go after XRP .»
Hoskinson’s comments sparked several reactions within the XRP community. Some community members have used the X platform to to call to the founder of Cardano.
