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Cardano Founder Slams Terra’s Venture Capitalists, Including Binance, Coinbase, and Huobi, For Being “Partial”

Lele Jima
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Cardano Founder Slams Terra’s Venture Capitalists, Including Binance, Coinbase, and Huobi, For Being “Partial”

Charles Hoskinson Reiterates VC’s Lack of Support for Cardano (ADA) Using a “Partial List” of Terra’s Financial Backers and condemns Venture Capitalists (VCs).


Hoskinson has once again reprimanded the partial VC relationship in the cryptocurrency space, as some projects seem to enjoy venture capitalists’ contributions over others.

Charles Hoskinson, the CEO, and founder of Cardano took to his Twitter page today to share a partial list of Venture Capitalists (VCs) backing Terra (LUNA) despite the cryptocurrency’s recent fall from its glory days.  

The Cardano boss shared the lists of Terra backers to tell a tale of “VC’s relationship in the cryptocurrency space,” which seems to be favoring a few crypto projects over others. 

VCs Backing Terra

Some of the VCs supporting the Terra project include Binance, Coinbase Ventures, Galaxy Digital, Huobi Capital, Polychain, Pantera Capital, Huobi Capital, and Hashed.  Even such big investors were not able to prevent Terra from falling 99% from above $80 to $0.000058 in days.

The list also contains the names of individual backers like Mike Novogratz and Michael Arrington. 

“Just as an example of the VC relationships in this space. Here’s a partial list of all Luna’s backers. Much larger lists for other coins,” Hoskinson said while sharing an image containing the names of VCs backing the Terra project. 

Hoskinson Slams VCs’ Lack of Support for Cardano 

The development comes a few days after Hoskinson stated a lack of love and support for the Cardano project from VCs and crypto media. 

Hoskinson made this known on Twitter as he quoted Novogratz’s previous tweet when he shared a picture of his arm with a LUNA tattoo. 

“I’m always wondering why VCs and crypto media love certain Alts and hate on Cardano. Just can’t figure it out…,” Hoskinson said, quoting Novogratz’s tweet. 

 

Cardano Still Doing Well With Community Support

According to Hoskinson, despite Cardano not being funded by VCs, the project is not doing badly when people consider its growth and development over the years. 

In a recent YouTube video, Hoskinson applauded the Cardano community for standing solidly behind the project despite the lack of support it has received from VCs. He believes that Cardano’s $700M decentralized reserve controlled b y community and funded by catalysts is enough for ADA.

“I hear people say that Cardano has no venture capitalists (VCs). What is capitalist? $700 million is ready to go deployed in a responsible manner through terms that you, the community control, and every single time a voting round happens we see more participation, we see more voting in many of the great projects,” Hoskinson said.

While he believes the growth of Cardano is not reflected in the price of ADA, the blockchain project’s native cryptocurrency, he said it is only a matter of time before the coin’s value will soar tremendously. 

At press time, ADA is trading around $0.59, up nearly 40% in the last 24 hours.  Meanwhile, the story of LUNA’s crash has continued to pierce the hearts of cryptocurrency enthusiasts. 

The cryptocurrency crashed from above $85 recorded last week to a low of $0.00000009 earlier today. 

Top Middle East Crypto Exchange List Shiba Inu As Shib Rebounds 44% From Recent Lows

Zabi
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Top Middle East Crypto Exchange List Shiba Inu As Shib Rebounds 44% From Recent Lows

 

Shiba Inu (SHIB) is finally listed on Rain, a top Middle Eastern crypto exchange, and two other cryptocurrencies.



Whenever the global crypto market experienced a dip, the SHIB community cheered some Big news.

Rain, the top Middle Eastern crypto exchange, has finally listed the Shiba Inu token on its business for trading purposes. The announcement was made public via tweet.

The announcement comes after Shiba Inu’s price dipped more than 31% on Thursday, hitting the most critical support level located at $0.00000952. Following the announcement, SHIB experiences a strong rebound in prices and is now trading 44% up from its recent lows. At the time of writing, the canine-themed cryptocurrency is trading at $0.00001374, with a 24-hour trading volume of $1,678,722,294 ($1.67B).

shib price

As Reported by TheCryptoBasic, Rain Based in Bahrain first asked the Shiba Inu community in March about the possible listing of the SHIB. Shib community without any doubt said YES.

Besides the most popular dog-themed cryptocurrency, the fastest-growing crypto exchange also has made Wrapped Bitcoin (WBTC) and PAX Gold (PAXG) available to trade for its users.

Shiba Inu’s listing on Rain was much awaited by the SHIB community, especially residents of Bahrain, Kuwait, Oman, Saudi Arabia, and the United Arab Emirates loyal to Rain Exchange were anxious to get their hands on SHIB because Rain Exchange is one of the top exchanges of Middle East. The platform is also trying to expand its wings beyond the Middle East and looking to provide trading services in other Asian countries.

Rain exchange has experienced record growth in the crypto industry across the Middle East and North Africa. In June 2021, the Rain exchange cheered a key milestone of crossing USD 1 Billion in trading volume, whereas, at the start of New Year 2022, the number of registered users on the exchange reached 200K.

Rain Financial had previously raised $110 million in a Series B funding round that was led by Paradigm and Kleiner Perkins. Other investors that participated in the funding round as announced by Rain Financial in January this year include Coinbase Ventures, Cadenza Ventures, Global Founders Digital, CMT Digital, and JIMCO. As reported, the funds will be deployed to enable Rain Financial to secure an operational license in more countries, improve the performance of its technology, and bolster its staff strength.

Peter Schiff Explains Why “Buying the Dip” Is Not Always Best Trading Strategy, Citing Terra (LUNA) As Case Study

Albert Brown
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Peter Schiff Explains Why “Buying the Dip” Is Not Always Best Trading Strategy, Citing Terra (LUNA) As Case Study

LUNA’s fall from glory in the past few days is causing many to reconsider whether “buying the dip” is the best trading strategy, as Peter Schiff shares his view.  


The popular notion in the cryptocurrency market that price crashes present an opportunity for people who did not join the crypto bandwagon early did not seem to apply to Terra (LUNA).

One known trading strategy in the crypto space is that people should take advantage of a market crash and buy financial instruments when their prices are low.

Schiff Says Buying the Dip Is Not the Best

Peter Schiff, the popular gold proponent, stated on Twitter why cryptocurrency investors should not always buy the dip, as he cited the LUNA case.

“Yesterday, Luna was down 98%. If you bought that dip thinking the crash created a great buying opportunity, you lost 99.3% today,” the American businessman said, adding that the LUNA story can happen to any digital currency.

A few hours later, Schiff added that the cryptocurrency was down another 50% from the price it traded when he made the first tweet. At the time of writing, LUNA is trading around $0.00002285 across major exchanges.

LUNA Lost Its Value

The “buy the dip” strategy did not turn out well for people who took risks with LUNA, a cryptocurrency that was in the top ten spot, a week ago.

The cryptocurrency has shredded every form of its gains since the Terra team announced in March that it would be buying Bitcoin (BTC) as a reserve asset for the TerraUSD (UST) stablecoins.

Just last week, LUNA was sitting as the eighth-largest cryptocurrency by market capitalization, with a market capitalization of nearly $40 billion.

The cryptocurrency, which traded above $80 for most of last week, was tipped to reclaim its $100 price level in a few days. However, all that dispersed in the wind following a lack of trust by investors in the LUNA team in relation to its BTC backing for the UST stable coin.

From above $80, LUNA’s value began to plummet rapidly, while investors also embarked on an accumulation spree for the cryptocurrency with hopes that its price would rebound since the cryptocurrency has a strong team behind it.

At press time, LUNA is currently the 1,070th coin in the Coingecko global cryptocurrency rankings, a long way from the eighth position it sat a week ago.

Luna was Trading at $87 on the 5th of may, Luna dropped to $59 on the 8th of May, and then came the price fall that the crypto market has not seen for a long time. On the 9th of may, Terra started the day at $65 and closed the day at $30. From 10th May, Luna suffered unprecedented losses, and the coin fell from $30 to $0.00028 in two days. On the 13th of may, Luna is trading at $0.000058 down almost 99% in 24 hours, losing a $40B market cap.

Investors Buying LUNA’s Dip Suffer More Losses

On Monday, LUNA recorded a high of above $65. Still, as news surrounding UST circulated on the internet, its price began to decline rapidly each day that passed, with more investors prepared to take the risk and grab some LUNA coins.

The cryptocurrency that was trading around $65 on Monday flattened to an all-time low of $0.0000009 earlier today.

The unfortunate incident suggests that “Buying the Dip” is not always the best trading strategy, as what you thought may be presenting an opportunity could leave you in serious losses.

Reactions to LUNA’s Losses

Mixed reactions have trailed the LUNA situation, with non-crypto enthusiasts saying people deserve what they get for not being financially educated enough not to invest in cryptocurrencies.

However, crypto enthusiasts have expressed their sympathy for people who recorded groundbreaking losses by investing in LUNA.

Yesterday, Shiba Inu’s lead developer was forced to share a story about his life while urging the cryptocurrency not to think about committing suicide because of the losses they have suffered in the past few days.

LUNA’s Dip Similar to Ripple’s XRP

Meanwhile, attorney John Deaton, the lawyer representing 65,000 Ripple (XRP) investors in the ongoing lawsuit between Ripple and the Securities and Exchange Commission (SEC), noted that making fun of people who invested in LUNA is “shameful.”

He recounted XRP investors’ ordeal when the SEC charged Ripple for conducting an unregistered security offering in the United States.

“If you’re an #XRPHolder, I’m sure you recall those that celebrated your loss. Just now, I learned eight people had taken their lives over the shame and terror of losing it all,” attorney Deaton said.

Binance Liquid Swap Closes All Liquidity Pools For Terra (LUNA)

Mark Brennan
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Binance Liquid Swap Closes All Liquidity Pools For Terra (LUNA)

Binance Liquid Swap Closes All Liquidity Pools For Terra (LUNA).


Binance announced that the exchange Liquid Swap has closed all liquidity pools for LUNA. The swap function for LUNA trading pairs has also been disabled.

Impacted Liquidity Pools: LUNA/BUSD, LUNA/BNB, And LUNA/USDT

Binance Users can redeem their assets from the above liquidity pools if they have positions. Binance warns users not to continue adding funds to the above liquidity pools. Binance also assures users that their funds are Safu.

Binance Liquid Swap is based on a pool of liquidity. There are two tokens in each pool, and the relative amount of tokens determines the price between them and can always be traded as long as there are corresponding tokens in the pool. Binance Liquid Swap offers more stable prices and lower fees for large transactions.

Today binance also confirmed that they will remove and cease trading on the following trading pairs at 2022-05-13 00:40 (utc):

Spot pairs: luna/btc, luna/bidr, luna/aud, luna/bnb, luna/eth, luna/usdt, luna/gbp, luna/brl, luna/try, and luna/eur.

Cross Margin Pairs：Luna/Busd, Luna/Usdt, Luna/Btc

Isolated Margin Pairs：Luna/Busd, Luna/Usdt, Luna/Btc, Luna/Eth, Luna/Ust

Users can still trade the luna on other trading pairs that are available on binance：luna/busd and luna/ust.

Yesterday Binance Decided To Halt Terra (LUNA) Futures Trading.

The strict decisions from the world’s top exchange are coming after Terra (Luna) has lost 57% of its market cap and 99% of its value currently trading at $0.00004411 in two days.

Read More on Terra And UST Crisis:

Cardano’s TVL Dips $50 Million As Market Tension Rise

Mark Brennan
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Cardano’s TVL Dips $50 Million As Market Tension Rise

Cardano’s TVL Dips along with the price.



The markets are crashing hard, and Cardano is among the thousands of tokens that have taken a severe hit. A quick look at all the market charts shows red everywhere, showing just how extensive this crash has been. While the price issue is a bad sign for the holding community, the decrease in the Total Value Locked in the ecosystem is even more worrying.

According to recent data derived from Data Studio, Cardano’s TVL seems to have taken a hit and slumped by million. The TVL stood at $197,871,696 on May 1st but dropped to $144,393,520 in few days.

cardano TVL

This occurs at a time when the price is also crashing. At the time of this writing, ADA is trading at around $0.49, representing a 15% drop in 24 hours and a 38% loss in the last seven days. That’s according to data currently on CoinMarketCap.

While there are many metrics used in the DeFi industry to gauge the viability and capabilities of projects, the Total Volume Locked (TVL) is the most important.

Ethereum’s market share in the DeFi industry stands at the lowest ever percentage of 55%. Just last year, Ethereum’s blockchain power fueled roughly 67% of the projects in the DeFi space. However, Ethereum still remains at position one as the most preferred blockchain for DeFi projects. Terra comes in second with $28.92 billion in TVL, followed by the BNB Chain in third place hosting $12 billion worth of DeFi TVL.

At the time of this writing, Cardano’s TVL totals just around $144.3 million, putting the network in the 32nd place among the preferred blockchains hosting DeFi projects. This puts the Cardano blockchain behind others like Astar, Thera, Gnosis, EOS, and Celo.

Are We In Winter?

The current market slump has left many crypto investors confused. Is it another crypto winter or just a flash correction that will pick in no time? According to a statement recently released by Cardano’s founder and CEO Charles Hoskinson, it appears that the crypto market might be at the doorsteps of another winter.

According to the CEO, winter could take weeks or months, depending on market dynamics. The last crypto winter of 2019 lasted for close to a year. That makes Charles’s optimistic outlook of weeks or a few months reassuring

Cardano Ecosystem Is Still Strong

Surprisingly, Cardano’s development agenda has remained unaffected by the current market conditions. The network has seen numerous developments and new entities coming on board, even in the wake of the bearish onslaught on the token’s price.

At the moment, it’s unclear whether the decrease in the network’s Total Value Locked (TVL) will affect the price in the short term. Also, it’s still early to predict whether the decrease will be progressive or will be reversed in the coming days. As is always the case in the crypto industry, time reveals everything.

Shiba Inu Lead Developer Share His Life Story, Urges Crypto Investors Not to Contemplate Suicide Amid Price Dip 

Mark Brennan
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Shiba Inu Lead Developer Share His Life Story, Urges Crypto Investors Not to Contemplate Suicide Amid Price Dip 

The Shiba Inu lead developer has proposed ways to keep cryptocurrency investors strong amid the ongoing price dip.


Cryptocurrency investors have suffered tremendous losses over the past few days, with the total market crashing over 30% in the last seven days.

Investors’ Reaction to Price Dip

A series of investors’ capitulations have been reported and many are yet to fathom when the current crypto dip will end.

Many investors have seen their life savings become insignificant over the last couple of days, especially people who are heavily invested in Terra-related cryptocurrencies, and on top of the ugly incident, the Fear, Uncertainty, and Doubt (FUD) will not stop.

Reports have emerged of some cryptocurrency investors committing suicide as they cannot endure their losses over the past few days.

Suicide Is Not An Option

Based on recent developments in the cryptocurrency market, Shytoshi Kusama, the lead developer of Shiba Inu, has urged digital currency investors to stay strong regardless of the massive dip currently being experienced in the market.

The pseudonymous Shiba Inu lead developer said he had also gone through difficult moments in life that prompted him to contemplate suicide on numerous occasions. However, all attempts he made to end his life ended in futility.

“Many nights I wondered why I even exist, and once (or twice), decades ago, I attempted to leave this earthly sphere as the hurt and pain were too much to bear. Except I didn’t go. Tried it. Didn’t work,” the pseudonymous Shiba Inu lead developer said today in a Medium post.

Shytoshi Kusama reckons that maybe the reason why all attempts to end his life failed was that he has a greater purpose, adding:

“Now, years later, I stand before you whole, focused, and wise enough to tell you that if I have a purpose, so do you. And leaving is not it.”

“Cryptos Will Always Be Here”

Shytoshi Kusama noted that killing oneself over cryptos is not worth it because the nascent industry will always be here and will come out stronger like it has always done in the past.

He called on investors going through difficult times to talk to family and friends in the cryptocurrency space to help keep their hopes alive until things stabilize once again.

“Though the market is down for everyone, a simple news check should remind you that adoption isn’t going to slow. In fact, the adoption of crypto by multiple countries, industries, and elites, should let us know that Digital Currencies are the future,” he added.

In the end, he said that Crypto is the future:

“The final thing I want to say. Though the market is down for everyone, a simple news check should remind you that adoption isn’t going to slow. In fact, the adoption of crypto by multiple countries, industries, and elites, should let us know that Digital Currencies are the future.”

SHIB Down 25% In 24 Hours

Meanwhile, the massive dip that has rocked the cryptocurrency market in the past few days did not spare Shiba Inu’s native token SHIB.

SHIB, which was trading above $0.00002000 on Thursday last week, fell to a low of $0.00000914, data on Coingecko shows.

The cryptocurrency is also been down over 25% in the last 24 hours, thus causing further panic across the Shiba Inu community.

5 Most Impactful Recent Developments In The Cardano Ecosystem

Albert Brown
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5 Most Impactful Recent Developments In The Cardano Ecosystem

 

5 Most Impactful Recent Developments In The Cardano Ecosystem.

 


The Cardano ecosystem has proven its mettle as a resilient network. Every other day, there’s something new or an upgrade happening on the network or within the ecosystem as it continues to expand.

Here’s a recap of a few of the most important recent happenings in the Cardano ecosystem:

The Cardashift Launchpad Went Live

The Cardashift launchpad has gone live on the Cardano network. The launchpad is mainly focused on funding and accelerating the growth of social and environmental-focused startups.

GERO ETH to Cardano Converter Went Live

The GERO Wallet has announced the ETH to Cardano converter release that will enable users to a converter to and from either token within the wallet. GERO is mainly focused on supporting DeFi advancements and securing funds within the DeFi environment.

Handle Partnered With Cardano Mixer

Cardano Mixer runs the CardMix, a protocol that promotes transaction privacy on the Cardano network. The partnership will bring this functionality to the Handle Standard.

Cardahub Has Partnered With HOSKY

Cardahub, the NFT platform using smart contracts, and HOSKY, a meme coin hosted on the Cardano ecosystem, have forged a strategic partnership. The partnership will enable users to list or buy NFTs on the Cardahub NFT Marketplace using the HOSKY Token.

COTI Has Released ADA Play Plugins For Popular Web Portals

The COTI Network has developed and released an ADA Play plugin for WordPress, Joomla, WooCommerce, and other popular web systems. The plugin will enable merchants to receive payments in ADA.

ErgoDEX Went Live On Cardano Testnet

ErgoDEX is the first ever eUTxO cross-chain DEX on Cardano. It went into test mode on May 6. Early users will receive rewards as part of the initial campaign.

Treasury Secretary Janet Yellen to Discuss Stablecoin Today Amid TerraUSD (UST) Crash

Lele Jima
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Treasury Secretary Janet Yellen to Discuss Stablecoin Today Amid TerraUSD (UST) Crash

Janet Yellen, the United States Treasury Secretary, is scheduled to testify later today before the U.S. House Committee on Financial Services. 

According to people familiar with the matter, while her testimony will still be based on the recently released Financial Stability Oversight Council’s (Council) 2021 annual report, there is a possibility that she will be asked several questions related to stablecoins during her testimony.

Ron Hammond, the Director of Government Relations at the Blockchain Association, stated this on microblogging platform Twitter today.

“Secretary Yellen will be testifying in front of the @FSCDems today at 10 AM. While the hearing is focused on FSOC, [I] can confirm there will be several questions regarding stablecoins. On Tuesday, Yellen said Congress needs to pass a bipartisan regulatory framework for stablecoins.”

Rising Interest in Stablecoins

In recent times, there has been a rising interest in stablecoins from both investors and regulators globally.

While investors have turned to the asset class to either purchase other cryptocurrencies or save themselves from a massive price dip in the market, regulators are concerned about the role the nascent asset plays in their economy.

Moves to Regulate Stablecoins

The United Kingdom has already taken significant steps to adopt stablecoins as a legal tender, in order to cushion the effect the asset has on the U.K. economy.

Yellen noted during her testimony on Tuesday that the United State’s Financial system was operating in an orderly manner despite the widespread sell-off of several financial instruments, including crypto.

However, Yellen said the FSOC is drafting a report to identify regulatory and financial stability gaps in crypto assets, including stablecoin.

Meanwhile, recent developments in the cryptocurrency space have called for the need to regulate stablecoins, especially as TerraUSD (UST), the native stablecoin of Terra lost its $1 peg to a low of $0.22 yesterday.

A similar fate was also recorded for Tether (USDT) after it fell to a low of $0.64 against DAI stablecoin on the world’s largest cryptocurrency exchange Binance.

Whale Sells 5 Trillion Shiba Inu Causing Serious SHIB Price Fall, Is Tron CEO Behind This Dip?

Zabi
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Whale Sells 5 Trillion Shiba Inu Causing Serious SHIB Price Fall, Is Tron CEO Behind This Dip?

TRON Founder “Justin Sun” Blamed For Recent Shiba Inu (SHIB) Dip? Conspiracy or True?



The founder of TRON, Justin Sun, is blamed for the recent Shiba Inu (SHIB) dip. Shiba Inu’s price tumbles more than 31% over the last day and hit the 24-hour low price of $0.000009145.

The widespread selloff in the global crypto market continues since the crypto market cap plunges -by 16.06% over the last day to $1.19 trillion.

All the world’s major cryptocurrencies, including Shiba Inu, suffered the worst selloff in history. As the selloff intensified, the Shiba Inu token lost more than -31.20% of its value within the last 24 hours. At the time of writing, the price of SHIB is trading at the price of $0.00001062, with a 24-hour trading volume of $1,850,119,220 ($1.85B).

This sharp plunge in SHIB price comes after the mysterious BNB whale sold a whopping 5 trillion SHIB, worth $52,900,000 ($52.90M) in two significant transactions within the last 24 hours, Etherscan.io data reports.

In her wallet, the mysterious whale still holds 3 trillion SHIB, worth $31,440,000 ($31.44M).

Following this massive selloff from the whale, the rumors began making rounds that this mysterious wallet belonged to Justin Sun, the founder of TRON.

Even Gossip SHIB, the former SHIB Growth Breed Member, took notice of this mysterious BNB wallet address and asked Justin Sun directly to clarify the real story while tagging him and sharing screenshots of the transactions in her tweet.

The tweet reads: “@justinsuntron is the evil behind #SHIB dip today? Conspiracy or true?”

However, she got no response from the TRON founder yet.

SEC v. Ripple: SEC May Abandon William If Confirmed That He Had Conflict of Interest While in Office, Legal Expert Says 

Mark Brennan
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SEC v. Ripple: SEC May Abandon William If Confirmed That He Had Conflict of Interest While in Office, Legal Expert Says 

Attorney John Deaton believes the SEC may likely throw Hinman under the bus if it is proven that he had a conflict of interest during his Ethereum free pass speech in 2018. 


New documents released by Empower Oversight concerning the 2018 speech about Ethereum not being security that was made by William Hinman further indict the former Director of SEC’s Corporation Finance of having conflicts of interest while he was still in office.

A recent document released by Empower Oversight suggests that the former SEC’s Corporation of Finance director had a conflict of interest before he made the 2018 speech stating that Ethereum is not a security.

Attorney John Deaton’s Reaction

Commenting on recent developments in Hinman’s 2018 speech, attorney John Deaton, the legal counsel representing 65,000 XRP holders, noted that if the controversial speech was not reviewed for conflict screening by the SEC, the former SEC director could be in a lot of trouble.

By this, attorney Deaton means that if it is proven beyond reasonable doubt that Hinman had conflicts of interest before making the controversial comment about Ethereum, the SEC’s Ethics office may want to give him up to save the agency from being ridiculed.

“@EMPOWR_us and @JsnFostr retrieved the emails below. If Hinman didn’t submit the speech to the conflict screening, it would be a game set & match. The Ethics Office is going to be pissed and wants to throw him under the bus if we force this investigation through letters from Congress,” attorney Deaton added.

Hinman’s 2018 Speech

Recall that Hinman’s 2018 speech has been a significant bone of contention in the lawsuit between Ripple and the Securities and Exchange Commission.

The speech contributed largely to Ethereum overtaking Ripple to become the second-largest cryptocurrency by market capitalization in 2018.

While Hinman concluded that ETH is non-security, Ripple argued that there is a likelihood that the SEC former director mentioned the regulatory status of XRP in the speech since both cryptocurrencies were in a neck-to-neck contest at the time.

However, all efforts to have the documents surrendered have been challenged by the SEC in court, with the securities regulators stating different reasons why the records cannot be used.

Hinman’s Conflicts of Interest While at the SEC

Meanwhile, Hinman has been accused of having conflicts of interest while in office. As reported by TheCryptoBasic, despite Hinman’s appointment at the SEC, he still had a series of meetings with his former employer Simpson Thacher.

The law firm is a member of the Enterprise Ethereum Alliance (EEA), which focuses on marketing the Ethereum network as an enterprise solution.

Furthermore, following his appointment as the director of SEC’s Corporation Finance, Hinman still went ahead to appoint his previous colleague from Shearman & Sterling, an organization that is also a member of EEA.

Based on his affiliations with Ethereum, many believed that it would be difficult for Hinman not to have favored the popular blockchain over Ripple while in office.

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