Cardano Founder Hoskinson Describes XRP Community as ‘Toxic and Petty’

2 mins
18 December 2022, 15:34 GMT+0000
Updated by Paolo Besabella
18 December 2022, 15:34 GMT+0000
In Brief
  • Cardano founder Charles Hoskinson said the XRP community was toxic.
  • Hoskinson revealed he would no longer discuss any Ripple-related subjects.
  • XRP shed over 9% in the past week.
  • promo

Cardano founder Charles Hoskinson declared he would no longer offer his views on Ripple or XRP-related topics in a Dec. 16 video.

Hoskinson revealed he was making the decision because the XRP community had “viciously” attacked him for his views on the ongoing lawsuit with the regulator.

The Cardano founder had previously predicted that the lawsuit would be concluded on Dec. 15, citing people familiar with the matter. However, with the case not coming to an end on the said date, some XRP community members described him as a liar.

Hoskinson Distances Self From Ripple

Hoskinson said he no longer sees the importance of answering any XRP or Ripple-related questions. He added that he would not even talk about the court case upon its eventual resolution. “If asked in the future, I’ll just simply say no comment,” he said.

According to him, the XRP community mocked, harassed, and brutalized him for dismissing their conspiracy theories surrounding the case.

“Never in my career in this space have I encountered a community so willing to viciously attack a person who, frankly, has not attacked them.” 

Meanwhile, the Ethereum co-founder also tweeted that XRP provides “no partnership or technical value.” He added that the coin’s community was “toxic and petty.”

Update on the Case

A Dec. 15 tweet from James Filan revealed that Paradigm Operations LP filed a motion for its in-house attorney Rodrigo Seira to take over its Amicus Curiae. According to Jeremy Hogan, Paradigm might be trying to save cost from the proceedings.

Several rumors had emerged that the settlement for the SEC lawsuit against Ripple was slated for the just concluded week. However, the crypto community is hopeful that the case will be settled in favor of Ripple, eventually.

XRP Price Performance

Ripple’s XRP was hit by the market-wide sell-off experienced over the past week. Coinmarketcap data shows that the coin fell by over 9% in the last seven days.

XRP performance December 18, 2022
XRP 24 Hour Price Performance

On the 24 hours metrics, the native coin dropped by 0.55% to $0.35.

However, despite its poor performance, Santiment data shows that whales have continued purchasing the asset. According to the data aggregator, whales holding above 100,000 coins have increased by over 6% in the last five weeks.

Disclaimer

BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.

Sponsored
Sponsored