XRP supporters have claimed that former SEC Director William Hinman’s speech about Ethereum was proof it had the support of the regulator.

Charles Hoskinson, the founder of Cardano (ADA), is of the opinion that the recent anti-crypto actions taken by the U.S. Securities and Exchange Commission (SEC) render the conspiracy theories regarding the legal dispute between the regulator and Ripple unfounded.

In a tweet on May 8, Hoskinson said that the “conspiracy” theory that holders of XRP were spreading that the SEC was targeting XRP because of Ethereum insider bribes was false. He added that recent regulatory actions against the cryptocurrency industry showed that this was an “accurate” assessment.

“I said the concept that the entire SEC is united against ripple by bribes from ethereum insiders is a conspiracy. Given that now Coinbase, Kraken, Bittrex, Tron, and dozens of others have been hit, it seems more accurate then ever”

While the SEC v Ripple case is still ongoing, SEC chair Gary Gensler has described all digital assets except Bitcoin (BTC) as securities and highlighted the noncompliance of crypto companies.

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XRP supporters allege Ethereum got free pass from SEC

XRP supporters have long maintained that the speech that former SEC Director William Hinman gave about Ethereum (ETH) was evidence that the Commission supported it.

They claim that the speech contributed to the widespread acceptance of ETH and its rise in value. Notwithstanding, other digital currencies — incorporating XRP — battled with an absence of administrative lucidity.

Mr. Huber, a proponent of XRP, stated that it was absurd for anyone to consider Hinman’s speech merely coincidental. Added he:

“Anyone who claims that this scandal is just an absurd conspiracy must believe Hinman’s policy and Clayton’s backing was a mere happenstance. “

In the meantime, the XRP community, which claims that Hinman was paid by Ethereum insiders, strongly refuted the SEC’s claim that Hinman’s speech was a personal opinion.

Ripple should build its case on merit rather than accusing the regulator of favoritism, according to Hoskinson, who has repeatedly criticized this viewpoint.

The founder of Cardano said in December 2022 that he had never “encountered a community so willing to viciously attack a person who has not attacked them” and that the XRP community was filthy and petty.