Home
News
- Charles Hoskinson will stop supporting Ripple’s ongoing lawsuit.
- XRP has been down 0.57% in the last 24 hours.
Due to violent comments from the community, Charles Hoskinson, CEO of Input Output (IOHK), said that he would stop supporting Ripple’s ongoing lawsuit and its native token, XRP. On a December 16 webcast, Charles said he was attacked for taking a stand on the Ripple case with the Securities and Exchange Commission (SEC).
Recently Charles Hoskinson reacted to David Gokhshtein’s tweet for spreading misinformation on the Ripple case hearing. The cryptocurrency influencer David tweeted that Ripple’s case will “apparently” settle by December 15.
The Cardano founder warned that the result of the long battle between the SEC and Ripple would have a “catastrophic” impact on the crypto market. “Stop spreading fake news. I said I heard rumors. This is not the same as believe,” Hoskinson tweeted.
Charles said the attacks were unwarranted as he was on the side of Ripple. He said, “I was accused of lying, and I was accused of yet again creating a flood and trolling. I don’t know how to interact with the XRP community, I think my statements have been historically very measured and supportive.”
He added, “So, moving forward, I am not going to answer any questions at all about XRP in any circumstances. I am not going to mention the project. I am not going to talk at all about anything going on after there is a resolution of the XRP case. I am not even going to discuss that if asked in the future I am just going to simply say no comment.”
Almost two years have passed since the SEC filed a lawsuit against Ripple Labs. The financial watchdog sued Ripple Labs Inc at the end of 2020 for marketing XRP tokens on its platform. The SEC claimed that XRPs were unregistered securities. According to CoinMarketCap, XRP has been down 0.57% in the last 24 hours.
Despite getting support from the world’s largest crypto platforms like Coinbase, the ongoing case, which is well into its second year, might not end anytime soon. Coinbase raised its vocal support for Ripple in court in October 2022. It stated that Ripple is considered the world’s sixth-largest digital currency by its market value.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
