Over the weekend, discussions around the ETH Gate theories reignited with news of Consensys suing the US Securities and Exchange Commission (SEC). The debate between Ripple CTO David Schwartz and Cardano Founder Charles Hoskinson further fueled the conversation.
The lawsuit filed by Consensys against the SEC accused the regulator of overstepping its authority with Ethereum. This led to online conversations questioning the SEC’s alleged favoritism towards Ethereum, especially after various exchanges delisted XRP following the SEC’s actions against Ripple.
Members of the crypto community also called for ETH’s delisting, believing it would confirm the existence of #ETHGate. The ongoing saga of the SEC’s actions against Ripple and XRP has raised concerns about regulatory inconsistencies.
Last year, lawyer Jeremy Hogan suggested that the SEC’s former Division of Corporation Finance director, William Hinman, may have been influenced by the Ethereum Foundation to give Ethereum a “free pass.” This added fuel to the theories of regulatory bias.
In a recent exchange, Charles Hoskinson demanded an apology from the XRP community and Ripple executives before considering a collaboration. He highlighted the ongoing attacks he has faced from the XRP community, leading to a heated back-and-forth between him and members of the XRP army.
Ripple’s CTO, David Schwartz, challenged Hoskinson’s claims of lack of evidence regarding the alleged involvement of Hinman in favoring Ethereum. This sparked a debate between the two crypto figures, with Schwartz questioning whether Hinman’s interests influenced the SEC’s actions against Ripple.
The discussions around #ETHGate continue to raise questions about regulatory fairness and potential conflicts of interest within the crypto industry. As the debate intensifies, it remains to be seen how these issues will be addressed within the community.