Charles Hoskinson, a well-known blockchain entrepreneur and the creator of Cardano provided his opinion on the ongoing discussion concerning Ethereum’s relationship with the U.S. Securities and Exchange Commission and their alleged plot against Ripple and XRP. He gave his opinion in a recent post on X. Steven Nerayoff, an early advisor to the Ethereum network, spurred additional discussions, to which Hoskinson responded.

Hoskinson highlighted the early history of Ethereum. He emphasized its modest start as an initial coin offering (ICO) worth $18 million. He claimed that while Ethereum was still in its infancy, the SEC conveniently ignored it, allowing it to grow unchecked. Hoskinson thinks that this regulatory leniency may have been significantly influenced by personal connections and backroom deals.

However, the founder of Cardano dismissed the idea that Ethereum had paid off the SEC to attack Ripple and XRP, calling it an unfounded conspiracy theory. He emphasized that Ripple was not even active in the same smart contract market, so it couldn’t be a rival.

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What is Happening?

Steven Nerayoff claimed that a fabricated case was brought against him due to his insights into Ethereum’s ICO. He alleged involvement from individuals linked to the FBI, SEC, Department of Justice, and even Ripple in this alleged conspiracy. Importantly, Nerayoff emerged victorious in his legal battle.

Subsequently, Nerayoff’s lawyer issued a statement indicating that Nerayoff intended to disclose his knowledge, but he would do so in accordance with legal procedures to safeguard the public and uphold the principles of justice.