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Cardano Founder Hoskinson Thinks ETHGate Is Real 

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Cardano founder Charles Hoskinson thinks there is a likelihood that the ETHGate scandal is real.  

During a recent Ask Me Anything (AMA) session, Cardano founder Charles Hoskinson suggested that ETHGate could be real. 

“I never once said that ETHGate didn’t happen,” he remarked. 

Hoskinson stated that it is possible that someone from Ethereum might have bribed certain officials at the SEC to give ETH a pass.

Per Hoskinson, establishing relationships with top regulators to get favorable regulations is not a new practice. He mentioned that most entities outside the crypto space also engage in such acts. 

While there is a chance that ETHGate is real, Hoskinson noted that the theory has no relevance to Ripple’s ongoing lawsuit with the SEC. 

ETHGate Scandal 

For context, ETHGate has been a major topic of discussion for years. The theory involves allegations suggesting that certain members of the Ethereum core team established relationships with notable figures at the SEC to give ETH a regulatory edge over other crypto assets. 

Pioneers of these theories believe that this relationship prompted former director of SEC’s Corporation of Finance William Hinman to declare ETH as a non-security during his infamous speech in June 2018. 

Notably, Hoskinson has previously highlighted the possibility of someone from Ethereum bribing the SEC to give ETH a free pass. 

However, he denied having direct knowledge about the incident since he left Ethereum during its early days to establish Cardano. 

Hostilities Between Hoskinson and XRP Community Lingers 

Meanwhile, Hoskinson’s comments regarding the ETHGate scandal have birthed a lot of controversies, creating hostilities between him and XRP community members. 

According to Hoskinson, XRP community members have given a different meaning to ETHGate. He noted that some XRP holders alleged that the ETHGate theory involves Ethereum officials bribing the SEC to sue crypto payments company Ripple. 

The Cardano founder labeled the allegation as a grand conspiracy, noting that there is no evidence to support the claim. 

“It’s a completely separate subject from Ethereum taking care of its own interest and trying to find relationships to help steer along a regulatory interpretation in their favor like most entities do,” he said.

According to him, “It’s a different conversation that somebody from the Ethereum side or otherwise gave money or did something for a regulator to go after you, the XRP people. It didn’t happen.”

The feud between Hoskinson and the XRP community has lingered for years, with Hoskinson taking steps to end it. Last year, he publicly sought peace to end the hostilities. 

However, his peace attempts yielded no results, as both parties continued to hurl derogatory comments at each other.  

Ripple CEO on BlackRock Launching XRP ETF, “It Makes Sense for XRP Army”

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Ripple CEO Brad Garlinghouse has emphasized that a decision from BlackRock to introduce an XRP exchange-traded fund (ETF) would “make sense” for the XRP community.

This came during an interview with Bloomberg yesterday. Garlinghouse was asked about the likelihood of an XRP ETF becoming a reality, especially amid increased speculation following the U.S. regulator’s approval of the inaugural crypto spot ETF for Bitcoin.

XRP ETF Makes the Market Safer

The Ripple CEO responded by suggesting that it is logical to anticipate the emergence of other ETFs following Bitcoin’s lead.

He likened the situation to the early days of the stock market, where investors sought diversified exposure beyond individual stocks or companies.

Assertively, Garlinghouse argued that additional crypto spot ETFs, such as XRP, will emerge to help spread risk.

“So I think we will see other ETFs. It makes these markets safer. It makes them more robust. And so this is good for the investment community,” he remarked.

BlackRock Launching XRP ETF with Ripple?

Meanwhile, the Bloomberg correspondent pressed further, asking whether Ripple would welcome an XRP ETF. Ripple’s CEO responded affirmatively that Ripple will welcome it, adding that the XRP spot ETF is inevitable. 

On this premise, the journalist inquired whether Ripple was discussing the possibility of launching an XRP ETF with major issuers like BlackRock.

However, Garlinghouse declined to provide a straightforward yes or no. This cautious stance mirrors BlackRock’s response when questioned on the matter. In Garlinghouse’s words:

“I’m not going to comment on that. I know BlackRock has said some things publicly.”

Yet, the Ripple CEO believes that such a move to see BlackRock launch an XRP ETF “makes sense for the XRP community overall.”

He elaborated on this viewpoint by noting that before the SEC lawsuit, XRP held the position as the second most valuable digital asset, which Ethereum (ETF) now occupies. 

Notably, BlackRock has a pending application to list an ETH spot exchange-traded fund.

Overall, Garlinghouse’s comment on the potential of an XRP ETF has sparked excitement among crypto community members.

However, Garlinghouse expressed reservations about predicting the exact timeline for the arrival of XRP ETF. He expanded on this viewpoint by highlighting that it took a court decision to push the SEC to endorse Bitcoin spot ETFs. 

Essentially, Garlinghouse emphasized that other crypto ETFs may not come soon.

XRP Rival Stellar (XLM) Gets First Smart Contract

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Stellar has recorded the first smart contract uploaded on its mainnet hours after its Protocol 20 upgrade, overtaking the XRPL in the race to implement smart contract capabilities.

February 20 marked an important milestone for the Stellar ecosystem as it switched from being a payment protocol to one that can now host Decentralized Applications (DApps).

The journey toward the launch of Protocol 20, which ushered in the Soroban Smart Contract capabilities, is an extensive one that ended with the network’s validators ratifying the move on February 20.

New Era Begins for Stellar

The terrain has now changed for Stellar, as it can compete with existing blockchain networks for a share of the Decentralized Finance (DeFi) user base. Stellar was first designed as a protocol for payments, giving Ripple Labs major competition in cash settlements.

Though a smart contract has gone live on the mainnet, dApps may not emerge until much later. The upgrade ushered in Phase 0 in the Soroban rollout, marked by code stability testing. From here, Soroban contract transactions will be increased in Phase 1 and applications can start deploying at this stage.

The public will have access to these Stellar-backed applications in Phase 2 as Ledger capacity and stability are poised to be optimized.

The launch is considered a very important milestone, with community members excited about the upgrade, as it indicates that Stellar just outpaced XRP Ledger (XRPL) in the race toward releasing smart contracts.

Notably, the XRP Ledger has also been looking to introduce smart contracts capabilities through the launch of Hooks, a protocol introduced by XRPL Labs, the development team behind Xaman wallet.

However, concerns have emerged about the potential impact of the Hooks protocol, leading to delay in its implementation. Ripple’s CTO David Schwartz stressed that Hooks could pose a multi-billion dollar problem to users of the XRPL if it contains some flaws.

It bears mentioning that XRPL Labs has already implemented Hooks on its XRPL sidechain Xahau network. Schwartz claimed the launch of Xahau was a good way to test out the Hooks protocol before launching it on the XRPL mainnet.

Most recently, Richard Holland, CTO at XRPL Labs, noted that they would push for Hooks on the XRPL if up to 10,000 users indicate interest. Vet, an XRPL validator launched a pool, and over 94% of 11,503 votes showed interest.

In response, Holland acknowledged that the criteria had been met, calling on RippleX to send engineers and funding for the protocol. Holland disclosed on February 12 that they had opened a new PR for Hooks.

Future Expectations

Notably, the recent development shows that Stellar has pushed ahead of the XRPL in this regard. With Soroban now live, XLM is expected to have more use cases in the Stellar-based decentralized finance ecosystem, compounding bullish pressure on the coin.

However, at the moment, XLM is not showcasing a bullish twist amid the Soroban rollout, as its price has dropped 3.3% in 24 hours to $0.115. The trading volume has, however, retained the bullish optimism with a 17% surge to $118,648,540.

Shiba Inu Officially Launches SHEboshi NFTs

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The Shiba Inu ecosystem team has finally announced the launch of the highly anticipated SHEboshi non-fungible tokens (NFT) collections.

According to an announcement yesterday, the launch of SHEboshis marks the beginning of a new era for the NFT scene. The digital collectibles will pioneer a movement towards the creation of hybrid tokens, offering shared ownership and uniqueness for NFT enthusiasts.

Unlike existing NFTs, SHEboshi was launched as a DN404/ERC-404 token, a move that helped the Shiba Inu development team blend the unique features of ERC-20 and ERC-721 standards.

Notably, the team pointed out that the SHEboshi NFTs represent a daring stride into the future, encapsulating art, innovation, and the essence of the Shiba Inu community.

It bears mentioning that the SHEboshi NFTs were first introduced last week in the 13th edition of The Shib Magazine. Although the minting of SHEboshi was initially scheduled to begin last weekend, the exercise did not occur as planned.

SHEboshi Minting Commences

Per yesterday’s blog post, the team has officially flagged off SHEboshis’ minting on the Ethereum network.

Shiboshi holders will be the first investors to mint the NFTs. The move is part of an effort to reward them for their loyalty and support for the Shiba Inu NFT project.

Following a snapshot at block height 19227900, eligible wallets can claim one SHEboshi for each Shiboshi NFT they hold. Interestingly, some eligible Shiboshi holders have already minted the SHEboshi NFT, including Shiba Inu marketing specialist Lucie.

The claim period, which commenced yesterday, is slated to last 48 hours in contrast to the initial plan of 72 hours.

Upon the conclusion of the first claim period, the team will make the NFTs available for LEASH holders, who will have 24 hours to purchase the remaining SHEboshis.

There will also be a public sale for the remaining SHEboshi NFTs, which will take place on Uniswap and ShibaSwap.

Although SHEboshi debuted on the Ethereum network, the team disclosed plans to bridge the NFTs to Shibarium to enhance the network’s liquidity.

Allocation of SHEboshi Proceeds

As reported earlier, the SHEboshi proceeds will be allocated to different initiatives. Part of the proceeds will be used to burn Shiba Inu ecosystem tokens, including SHIB, LEASH, BONE, TREAT, and SHI.

The remaining portion will be allocated to Shiba Inu’s treasury, non-profit initiatives, expenses, and foundation.

According to OpenSea data, SHEboshis consists of 20,000 uniquely generated non-fungible tokens with a floor price of 0.12 ETH ($351.72).

Despite launching a few hours ago, SHEboshi’s total volume has surged to the current figure of 900 ETH, worth $2.63 million.

Bitcoin Elite Trader Says XRP is Next Shining Bull After Investing $500k

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A prominent Bitcoin trader has proclaimed XRP the forthcoming star asset of the current bull market after investing half a million in the asset. 

A Bitcoin trader using the username “Doctor Profit” on X has explicitly designated XRP as the next shining bull. He even outlined a timeline for realizing his prediction. 

XRP Next Star Asset in Bull Market

The Bitcoin trader’s assertion arrives amid the crypto market’s recent upswing. Notably, Bitcoin surged past $52k and catalyzed gains for assets like Solana (SOL) and Cardano (ADA).

Despite a recent market pullback, SOL and ADA maintain impressive 30-day trajectories, each exceeding 20%.

In contrast, XRP has not mirrored the momentum of its counterparts following Bitcoin’s surge to $52k. It accrued only a cumulative 3.67% gain over the past 30 days.

This divergence in performance likely contributes to the Bitcoin trader’s declaration of XRP as the next asset poised to seize the spotlight.

According to the tweet, the Bitcoin trader anticipates a substantial turnaround for XRP within the next 30 to 60 days. However, he specified no target to look out for.

Bitcoin Trader Investing $500k in XRP

Furthermore, Doctor Profit disclosed investing half a million dollars in XRP recently. Notably, the Bitcoin elite trader acquired 888,353 XRP in two transactions at an average price of $0.56 four days ago.

As The Crypto Basic reported, the newly acquired XRP portfolio saw a gain of $10,098 just hours after the acquisitions, as XRP surged to $0.5714. 

Moreover, the trader highlighted that this recent acquisition marks his first substantial purchase of XRP since acquiring the asset at $0.32 the previous year.

Essentially, the Bitcoin trader has exhibited notable confidence in XRP amid the growing concerns about the asset’s underperformance.

Meanwhile, Doctor Profit’s recent proclamation regarding XRP as the next shining bull has ignited skepticism within the crypto community.

In response to his tweet, some have questioned his preference for XRP, while others have argued that XRP may lose its position in ranking the most prominent cryptocurrencies during this bull cycle.

Nonetheless, an increasing number of market observers see the bullish potential in XRP.

Bitcoin Proponent Arthur Hayes Calls Cardano Piece of Sh.t, Hoskinson Reacts

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Arthur Hayes, the pro-Bitcoin co-founder of BitMEX, has taken to the social media platform X to criticize Cardano (ADA), sparking a response from Cardano founder Charles Hoskinson.

In a recent statement, Hayes characterized Cardano as a cryptocurrency lacking utility, dubbing it a sh.tty meme coin.

He supplemented his argument by presenting a list of the most prominent decentralized applications (dApps) within the crypto space. The list included dApps offering functionalities such as decentralized exchanges (DEX), liquid staking, NFT marketplaces, gaming platforms, and infrastructure projects.

In parallel, Hayes challenged ADA enthusiasts to identify any dApps launched on Cardano or offering heavily utilized Cardano-based services.

While acknowledging his limited knowledge on the matter, he concluded that it appears none of them do. Consequently, he derisively dismissed ADA as “dog sh.t,” inviting the Cardano founder to enlighten him.

Cardano Army Debunks Claims

Meanwhile, the Cardano community has greatly contested the claim that no prominent dApps launched on Cardano with tailored offerings.

Liqwid Labs, the first non-custodial pooled lending protocol with liquid staking on Cardano, responded by highlighting their contributions. 

They mentioned their development of Aave v3 liquidity pools alongside Lido liquid staking. Liqwid Labs emphasized that ADA lenders have the opportunity to earn yields from staking and borrow interest using a unified interest-bearing LP token.

Furthermore, they pointed out the innovative DeFi products by Cardano teams, including Minswap Labs, Optim, and Indigo.

Similarly, Cardano-based DEX Minswap Labs responded to Hayes. The team highlighted that in 2023 alone, Minswap facilitated over 2.1 million trades and processed a volume exceeding 4 billion ADA.

 

Moreover, it pointed out that Minswap attracted more than 401,000 users. Minswap Labs noted these figures are merely a fraction of the expansion occurring within the Cardano ecosystem.

Cardano Founder Reacts

In a tweet, Charles Hoskinson called out Arthur Hayes, seeking clarification about the motivation behind his criticism of Cardano. Moreover, Hoskinson remarked that Hayes is someone he admires, suggesting he does not expect such unfair criticism from him.

In reply, Hayes reiterated his perspective, stating ADA is a “piece of sh.t.” Similarly, he noted that his appreciation for Charles Hoskinson remains unchanged, regardless of his reservations about ADA.

As a result, Hoskinson pressed further, urging Hayes to specify precisely what aspects of Cardano he finds unfavorable. 

However, as of press time, Arthur Hayes has remained silent and provided no response to the straightforward question despite repeated calls from other community members.

Elizabeth Warren Reacts As Pro-XRP Lawyer Officially Decides to Run Against Her

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Attorney John Deaton has declared his intention to run against Elizabeth Warren in the upcoming senate election.

The battle for who would become the next Massachusetts Senator has seen an interesting twist as pro-crypto lawyer John Deaton declares his intention to challenge Elizabeth Warren in this year’s election.

This comes days after reports emerged that he was considering running against Senator Warren.

Deaton Officially Declares to Run Against Warren

Attorney Deaton announced plans to take on Warren for her senate seat via a recent tweet. Interestingly, the pro-crypto lawyer and former U.S. Marine attached a campaign video to the tweet highlighting why he is the suitable candidate to represent the citizens of Massachusetts.

During the nearly three-minute video, Deaton shed light on his hardscrabble upbringing, his law career where he had to protect the rights of the “little guy” as seen in the Ripple case, and his service in the U.S. Marine.

Per Deaton, getting a seat in the U.S. Senate would allow him to “shake things up for the people who need it the most.”

His campaign promises include providing more accessible healthcare for everyone in Massachusetts, solving the migrant crisis, fighting inflation, offering better opportunities for children, and taking on the corruption in Washington.

Furthermore, Deaton took a swipe at Warren for abandoning her obligations and doing nothing for the people of Massachusetts.

“I’ll work day and night to make a difference in your life. I know your life’s struggles because I’ve lived them. I’ll fight for what is right because I have no fear, and I’ll never give up,” he remarked.

It bears mentioning that Attorney Deaton recently moved to Massachusetts from Rhode Island in preparation for this year’s election, where he would run under the Republican Party.

Senator Warren Seeks Donation

Surprisingly, Deaton’s announcement to run against Senator Warren stirred a reaction from the senator, who quickly requested donations to help her re-election bid. According to Warren: “It seems that the Republican party could not find a candidate in Massachusetts to run against me, so they brought in someone from Rhode Island who will have the backing of the GOP and special interest groups.”

 

She emailed donors, asking them to quickly send donations to compete against powerful interest groups who would fund Deaton’s campaign heavily.

According to Warren, the Republican Party selected Deaton to end her efforts toward taxing the rich, regulating top financial institutions, and making the government work for the working class.

Senator Warren urged donors to “pitch in $28” or anything they can spare towards her re-election bid.

A Strong Opposition

Meanwhile, Attorney Deaton would face strong opposition from Warren, whom many politicians consider unbeatable. Besides being a senator for over ten years, Warren is a law professor and strong voice in the U.S. Senate with a reputation for pioneering progressive policies, including creating a wealth tax.

She has strongly criticized cryptocurrencies, emphasizing her dedication to protecting unsuspecting investors from crypto scams and ensuring that banking rules apply to the crypto industry.

Conversely, Deaton is considered a prominent figure in the crypto industry as he fights to protect the rights of retail investors. As a result, Deaton got involved in the SEC v. Ripple lawsuit as amici curiae, where his contributions played a significant role in convincing the judge that XRP sales on digital exchanges are non-investment contracts.

He was also involved in the SEC v. LBRY case, representing tech journalist Naomi Brockwell. If Deaton gets elected in November, crypto enthusiasts and most Massachusetts citizens will hope he keeps to his campaign promises while protecting their rights.

Ripple CEO Says He Welcomes an XRP ETF – “It’s Inevitable”

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The Ripple CEO Brad Garlinghouse recently disclosed that he would welcome the idea of a spot-based XRP ETF, declaring that the launch of the investment product is inevitable.

Garlinghouse made these comments while speaking in a recent interview with Bloomberg’s Kailey Leinz. The Ripple CEO discussed the current state of the cryptocurrency landscape in the United States, as well as the regulatory environment within the industry.

Ripple CEO Would Welcome an XRP ETF

Addressing the possibility of a spot XRP ETF in the U.S., Garlinghouse expressed openness to the concept and welcomed the prospect of its launch.

This comes amid ongoing discussions centered around the potential launch of a spot XRP or Ethereum ETF following the introduction of the Bitcoin-based products.

While Ethereum ETF products have gained more traction, with asset managers like BlackRock, 21Shares, and Ark Invest filing for approval from the U.S. SEC, the fate of XRP-based ETFs remains uncertain.

Despite several filings, regulatory decisions for Ethereum ETFs are currently pending, with delays contributing to the ongoing anticipation in the market.

Meanwhile, the prospect of an XRP ETF in the U.S. was briefly glimpsed when an alleged filing supposedly from BlackRock surfaced on the Delaware ICIS last year. However, BlackRock promptly refuted the legitimacy of the filing, categorizing it as a fake.

Despite the absence of official filings from asset managers for an XRP ETF, Garlinghouse believes that introducing such a product is “inevitable.” Essentially, he expects the crypto industry to witness the launch of ETFs based on multiple assets.

In his words:

“We would certainly welcome it. I think it’s inevitable that there will be multiple ETFs around different tokens. You’ll even see ETFs potentially around baskets that also further diversify that risk.”

Garlinghouse’s comments emphasize his conviction that traditional asset managers would delve further into the cryptocurrency landscape as the industry matures. He sees the emergence of numerous ETFs on various assets, with XRP being among the highlighted candidates.

The Possibility of a Launch

Based on this conviction, Leinz asked the Ripple CEO if he is currently holding discussions with some of the largest asset managers, such as BlackRock, to see if there is a potential launch of an XRP ETF. Garlinghouse refrained from providing a direct answer, mentioning that BlackRock had made some comments publicly.

Interestingly, BlackRock’s CEO Fink also took a similar route when asked about the possibility of the launch of an XRP ETF. Speaking to Fox Business’ Charles Gasparino last month, Fink noted that he cannot discuss the subject on air, sparking curiosity among XRP proponents.

Speculation quickly emerged that Fink’s response could mean the asset manager might be looking to launch the product. However, in a subsequent disclosure, Gasparino revealed that BlackRock has no plans to launch the product.

In his recent Bloomberg interview, Garlinghouse emphasized that the launch of the XRP ETF would “make sense” to the XRP community. He called attention to the fact that XRP was the second-largest crypto asset before the SEC lawsuit, underscoring its prominence in the crypto industry.

According to the Ripple CEO, the long-term aim of these assets is to help solve real-world problems by creating utility. He acknowledged Bitcoin’s role as a store of value in solving real-world problems, stressing that XRP also provides real-world utility as a medium for fast and cheap transactions.

Expert Says XRP Could Reach $10 this Cycle; Pay Attention to XRP If You Want to Make Money

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A prominent crypto analyst predicts profit opportunities from monitoring XRP closely, projecting a valuation of $10 within this cycle.

In a recent study of XRP, the analyst behind X account “CrediBULL Crypto” suggested that it is now a crucial time to monitor XRP closely for possible outperformance.

“If you like making money, it may be time to start paying attention to XRP,” the analyst proclaimed on X.

XRP Set to Outperform Bitcoin by 200%

The analyst delved into XRP’s price history, highlighting that XRP tends to surge aggressively once determined to do so. He noted that in past instances of such aggressive breakouts, XRP outperformed Bitcoin.

Specifically, he referenced the 2017/2018 periods. This was when XRP experienced explosive growth, soaring from $0.2326 on December 7, 2017, to an all-time high of $3.84 on January 4, 2018.

This remarkable surge amounted to a staggering 1,550% gain in under five weeks.

Meanwhile, historical data suggests that Bitcoin only moved from approximately $10,000 to $14,000 during the same period, representing a 40% gain.

Another cited instance where XRP outperformed Bitcoin during an aggressive rally was in 2014. According to CoinMarketCap, XRP traded at $0.005039 as of November 16, 2014. 

However, precisely 33 days later, XRP had surged by 455% to $0.02797. Meanwhile, within the same period, BTC saw a 170% gain from $417 to $1,128.

Essentially, the analyst argued that XRP’s price surges rapidly and aggressively, often becoming elusive once they begin. He suggested that signs of the signal are beginning to emerge, indicating a significant potential upside for XRP in the upcoming weeks.

In particular, he set his target on a potential 200% gain against Bitcoin.

Road to $10 This Season

Furthermore, the analyst indicated that the predicted two-fold increase for XRP is merely a minimum target. Should XRP surpass this minimum and breakthrough historical resistance levels, market participants can anticipate further upward expansion for XRP. 

While emphasizing that a 200% gain would serve as the ultimate confirmation for a similar 2017 rally, the analyst acknowledged the possibility of it not materializing. 

However, he mentioned that such a breakthrough would open the door to even higher highs, potentially resulting in another 600% gain against Bitcoin.

When asked if XRP can make it to $10 this bull season, the analyst responded affirmatively.

At press time, XRP trades at $0.5638. Whether the asset will outperform Bitcoin by 800% in the coming weeks remains to be seen.

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