Key Takeaways:
- As Ripple’s SEC battles rage on, CEO Garlinghouse calls for industry unity.
- Hoskinson who previously criticized XRP and its community changed his stance on the matter and praised Garlinghouse, CEO of Ripple.
- Trump changing the SEC leadership may bring much clearer regulation for cryptocurrencies.
Charles Hoskinson, the founder of Cardano, has recently stated that he had a conversation with Brad Gralinghouse, the CEO of Ripple. In a recent post in X, Hoskinson praised the latter by praising him as a “great CEO” and also said that Garlinghouse is “extremely collaborative”. The post hinted at the possible collaboration between these two famous crypto giant CEOs.
Possible Cardano-Ripple Collaboration
On the 12th of this month, Charles Hoskinson made a post on X (Formerly Twitter). In this, he praises the Ripple CEO, Brad Garlinghouse. In it, he briefly hinted at their possible collaboration by saying “I just spoke with Brad Garlinghouse. He’s a great CEO and extremely collaborative, and I’m excited to see how the future unfolds.” From this moment, X was on fire, with numerous communities discussing the possibility of a new Cardano-Ripple alliance.
Garlinghouse also replied to the post by thanking Hoskinson and saying “Now is the time for the crypto community to come together, push for a level playing field and clear rules of the road. A rising tide lifts all boats.” This reply indicates that the 2 CEOs are planning a grand alliance that would be beneficial to the whole crypto world. This message regarding the alliance comes at a time when Ripple is facing constant legal battles with the US Securities and Exchange Commission (SEC).
The much-awaited collaboration may aim to strengthen both companies’ standing in the crypto market and also to improve the quality of various reforms and laws. If the supposed alliance of Cardano and Ripple happens, then there is also a major chance that the associated crypto coins will also rise in price in the market.
Accusations against Hoskinson & the counter-response
Steven Nerayoff, a prominent figure in the crypto world has accused Hokinson of engaging in “damage control” rather than providing genuine support for Ripple and the XRP community as a whole. This was because of Hoskinson’s critical stance on XRP and its community in the past. He also accused Hoskinson of making a “hollow apology” that was fueled by self-interest rather than the support of the industry.
This did not end there. Nerayoff openly confronted and accused of creating “false narratives” to elevate his projects, and also trying to undermine him and Ripple in recent years. He also called Hoskinsono a “free-riding” and “false prophet” in the blockchain ecosystem. Hoskinson in response to this, dismissed him outright by saying “All right, Steve, you just proved everything everyone says about you is true. Best of luck in life”.
Call for Unity by Ripple’s CEO
A few hours after the post praising Garlinghouse, the Cardano founder tweeted, “You know what’s unstoppable? When the entire crypto space comes together and unifies to take the industry to the next level”. It didn’t end there. He further said, “We won’t stop for a rest until there are a billion blockchain users.”
The Ripple CEO was also in league with this idea calling the need for a “level playing field” with a consistent set of regulatory rules or guidelines. The main suggestion behind the post was to suggest a collaboration between the crypto industry for the overall benefit of the entire crypto market.
Ending Is Near: Ripple Vs SEC
Ripple’s ongoing battle with the SEC may end sooner than we thought. As Trump emerged victorious in the election, there were plans to sweep the current SEC chairperson Gary Gensler. He was the one who led the SEC’s aggressive approach against Ripple’s XRP.
This leadership change can greatly influence Ripple’s case and can even result in the adoption of more crypto-friendly policies. This is likely going to make it easier for Ripple, as the alliance with the Hoskinson also progresses.