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Cardano Founder Calls Out the SEC For Giving Bitcoin “Free Pass”
- Cardano founder Charles Hoskinson is furious that the SEC has labelled Cardano (ADA) as an unregistered security.
- Hoskinson believes that Bitcoin meets some of the SEC’s definition of a security and that the SEC is being hypocritical.
- Social media reactions have been mixed, with some people finding Hoskinson’s outcry amusing while others have defended Bitcoin.
Charles Hoskinson, founder of Cardano and ex-developer of Ethereum isn’t exactly known for his mild manners. But the combative software engineer’s rage may eclipse any of his past feuds this time as he attacks the Securities and Exchange Commission (SEC) for giving Bitcoin a “free pass”. The outburst comes as the SEC officially labels Cardano (ADA) as an unregistered security as part of its investigation into Binance.
Hoskinson Lashes Out at Bitcoin
Hoskinson unleashed his anger on Bitcoin and its investors due to its immunity from the SEC’s ongoing investigations of various crypto projects. Throughout his tirade, he implored followers to tell him the difference between Cardano (ADA) and Bitcoin and implied BTC breached the SEC’s definition of being an unregistered security, too.
Is there an expectation of return with the goddamn orange-pill moon boys? It’s there! You could perform a 51% attack on Bitcoin…but it’s decentralised apparently and Team Orange gets a free pass. It’s a pathetic f***** joke.
Charles Hoskinson Social Media Is Split on Hoskinson’s Claims
Crypto Twitter is renowned for its hostility and toxicity… and the response to Hoskinson’s video is no different. Several have posted their mirth at the Cardano founder’s plight, given that he – only about 12 months ago – laughed when Ripple and XRP underwent the same SEC investigation.
Others have highlighted why Bitcoin is actually quite a different project in comparison to Cardano.
Cardano was recently marked as a security by the SEC, alongside other popular tokens such as Solana and Binance Coin.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
