Cardano (CRYPTO: ADA) founder Charles Hoskinson mocked Ripple Labs (CRYPTO: XRP) CEO Brad Garlinghouse on Sunday for not challenging the current draft of the cryptocurrency market structure bill.
Hoskinson Furious With Garlinghouse
In a live stream from his official X account, Hoskinson slammed Garlinghouse for not firmly opposing the latest version, which many in the industry see as favoring banks and financial incumbents at the expense of decentralized finance.
Garlinghouse praised the Senate Banking Committee for providing “workable frameworks” for crypto, stating that “clarity beats chaos.” He expressed optimism that issues will be resolved through the markup process.
“Sorry, Brad. It’s not better than chaos. Take the chaos and fight for what’s right. Fight for integrity,” a visibly furious Hoskinson said.
‘I Signed Up For Freedom’
The Cardano creator said he didn’t sign up to hand the “revolution” to banks. “I signed up for freedom,” he added.
Hoskinson, who is also the co-creator of Ethereum (CRYPTO: ETH), dismissed the “better than nothing” argument, suggesting sarcastically they might as well hand control back to the anti-cryptocurrency people against whom they fought to elect the Trump administration.
Ripple didn’t immediately return Benzinga’s request for comment.
Coinbase Global Inc. (NASDAQ:COIN) withdrew its support for the cryptocurrency market structure bill, hours before lawmakers were set to vote on the legislation. The withdrawal led to an indefinite postponement of the bill’s markup.
Hoskinson’s No-Holds-Barred Attack
Hoskinson’s criticism comes in the wake of his call for the resignation of David Sacks, the White House cryptocurrency czar, should the bill fail to pass in the first quarter.
He blamed Sacks for doing nothing in his power to prevent Trump from launching ventures, including the Official Trump (CRYPTO: TRUMP) memecoin, that have impeded the passage of cryptocurrency bills.
Notably, Hoskinson was one of the biggest supporters of Trump leading up to the 2024 presidential polls, accusing former President Joe Biden of actively working to stifle the cryptocurrency industry.
Photo Courtesy: Alexandru Nika on Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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