Ripple’s CTO has countered Cardano’s founder in a debate that has challenged government actions.

‘ETHgate’ theory has been scrutinized, unveiling questions about Ethereum’s classification.

Hidden details of Hoskinson’s early involvement in Ethereum’s journey have been unveiled.

Ripple’s Chief Technology Officer, David Schwartz, has offered a counterargument to Cardano’s founder, Charles Hoskinson’s comments regarding the motives of United States regulators in their determination that Ethereum (ETH) is not classified as a security.

Hoskinson Debunks ‘ETHgate’ Theory in AMA Session

During an October 8 AMA session, Hoskinson dismissed the “ETHgate” theory, arguing that corruption didn’t drive government actions. ETHgate alleges that Ethereum received preferential treatment from U.S. regulators, especially the U.S. Securities and Exchange Commission (SEC), which consistently claimed ETH isn’t a security.

While the SEC’s director, William Hinman, explicitly stated in 2018 that Ether is not a security, regulators have encountered difficulties categorizing other cryptocurrencies like XRP, leading to challenges in their adoption.

Hoskinson maintained that Hinman’s regulatory drafts in June 2023 suggested favoritism rather than corruption, citing the absence of concrete evidence. He also questioned the motivation behind Ethereum’s push not to be labeled a security and its potential concerns about XRP.

XRP CTO claps back at Hoskinson in heated ETHgate debate

Hoskinson’s recent remarks on ETHgate have sparked a response from the XRP community, including figures like XRP CTO Schwartz. The crux of the disagreement centers around the definition of corruption. Schwartz contended, “I would argue that a government actor showing favoritism aligned with the personal interests of themselves and their friends is corruption.”

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