thecryptobasic.com
Ripple CEO Brad Garlinghouse and Cardano founder Charles Hoskinson confirm they are in talks to build an alliance within the crypto space.
The industry stalwarts confirmed the development yesterday during an exchange on X. In an X post, Hoskinson disclosed that he had a discussion with Garlinghouse, complimenting him as a great and highly collaborative CEO. Notably, he expressed excitement about the future, hinting at a potential partnership between the two ecosystems.
Ripple CEO Reacts
Reacting, Garlinghouse thanked Hoskinson for his ‘kind words’ and used the opportunity to advocate for collective action within the crypto sector. Specifically, Garlinghouse emphasized the need for the industry to push for a level playing field and clear rules collectively.
State of Crypto Regulation in the US
It is worth mentioning that the crypto industry has faced regulatory challenges in the United States, where the SEC has targeted several companies, including Ripple.
While the SEC charged Ripple in 2020 with violating the law by selling XRP as an unregistered security, the regulator labeled Cardano’s native token ADA a security in its lawsuits against Coinbase and Binance.
Garlinghouse believes the SEC has been picking winners and losers in crypto since it first made moves to regulate the industry in 2018. He views this move as creating an unlevel playing field that could stifle U.S. innovation.
As a result, he has been at the forefront, pushing for transparent and fair rules to drive innovation and propel the industry’s growth. Notably, Garlinghouse is now calling for a collaborative approach. This could see crypto entities like Ripple and IOG (the company behind Cardano’s research and development) partner to advocate for a level playing field. However, such partnership remains unconfirmed at press time.
The good news is that the just-concluded U.S. presidential election saw Donald Trump, who is committed to providing clear rules for crypto, emerge victorious.
During his campaign, Trump made several pro-crypto promises, including sacking the current SEC chair, making the U.S. the crypto capital of the world, and keeping anti-crypto lawmakers like Senator Elizabeth Warren away from the industry.
Hoskinson Apologizes to XRP Holders, Proposes Partnership with Ripple
Meanwhile, both Garlinghouse and Hoskinson had the discussion days after the Cardano founder apologized to the XRP community.
The Cardano founder extended an olive branch to XRP holders following a multi-year dispute stemming from allegations that Ethereum’s team influenced the U.S. SEC to target Ripple.
Hoskinson has repeatedly denied this claim, raising tension between the XRP and ADA communities. However, Hoskinson apologized to XRP investors and offered to partner with Ripple on two major initiatives involving Cardano’s Midnight and Ripple USD (RLUSD).