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HomeCrypto NewsMarketCardano Founder Braces For Embarrassment If Ripple Settlement Rumors Fall Through

Cardano Founder Braces For Embarrassment If Ripple Settlement Rumors Fall Through

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Hoskinson prepares himself for backlash should Ripple settlement rumors he fueled come to nothing.

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Cardano founder Charles Hoskinson appears to have made peace with the potential embarrassment and backlash from the XRP community should rumors of a Ripple settlement with the US Securities and Exchange Commission prove false, per a tweet from the Cardano founder today.

“Let’s see if the rumors I heard are right about the XRP resolution,” Hoskinson tweeted. “Might have some egg on my face.”

It comes after the Cardano founder, in a surprise ask me anything (AMA) session on December 10, disclosed that he had heard rumors that Ripple will settle with the SEC on December 15. Notably, Hoskinson’s statements spurred wild speculations among the XRP faithful.

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However, FOX Business reporter Eleanor Terrett debunked the rumors as false, citing sources close to the matter as reported by The Crypto Basic. Unsurprisingly, this has once again put Hoskinson in the black books of several XRP supporters, with many taking the opportunity to troll the Cardano founder.

In a witty response to Hoskinson’s tweet today, one user noted that the rumor sounded like a “grand conspiracy.” For context, Hoskinson, in October, had described claims from XRP community members of a conflict of interest between William Hinman and Ethereum as a “grand conspiracy” as well.

A settlement between Ripple and the SEC in the nearly 2-years-long case now seems unlikely, according to pro-XRP attorney Jeremy Hogan who has been following the case. Hogan says it is because both parties at this point have seen “everything” from each other.

Ripple CEO Brad Garlinghouse previously asserted that Ripple would only settle if the SEC provided clarity for XRP.

Meanwhile, as previously reported, a settlement is not the preferred option for the crypto community. Gokhstein media founder David Gokhstein described it as the worst possible outcome. This is because while it might create clarity for XRP, it does not push the SEC to create regulatory clarity for the rest of the market.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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