{"id":26190,"date":"2025-01-13T16:04:28","date_gmt":"2025-01-13T16:04:28","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=26190"},"modified":"2025-01-13T16:04:28","modified_gmt":"2025-01-13T16:04:28","slug":"cardanos-visionary-founder-shares-insights-on-ripples-usd-integration-and-the-collapse-of-the-usdc-deal","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/cardanos-visionary-founder-shares-insights-on-ripples-usd-integration-and-the-collapse-of-the-usdc-deal\/","title":{"rendered":"Cardano\u2019s Visionary Founder Shares Insights on Ripple\u2019s USD Integration and the Collapse of the USDC Deal"},"content":{"rendered":"\n

Recently on X, Charles Hoskinson, the CEO of Input Output Global (IOG) and the founder of Cardano, responded to claims regarding the Cardano Foundation’s (CF) handling of stablecoin integrations. He also mentioned new opportunities with Ripple\u2019s RLUSD. This dialogue highlighted ongoing frictions involving Hoskinson, the CF, and parts of the community, as well as Cardano’s possible partnerships with Ripple.<\/p>\n

<\/span>Dispute Over Cardano Foundation\u2019s USDC Approach<\/span><\/h2>\n

The controversy<\/a> arose when staking pool operator @matiwinnetou accused Hoskinson and the CF of failing to secure popular stablecoins for the network. \u201cThe Cardano Foundation is ineffective\u2026 with their excess ADA, they’re reluctant to invest in large budgets. The community wants USDC and USDT. It creates a mismatch for Cardano as a decentralized blockchain in a centralized environment. Moreover, Hoskinson’s responses often exacerbate the situation,\u201d the operator stated.<\/p>\n

In response, Hoskinson rejected the blame directed at IOG, indicating that the CF had made poor choices related to USDC integration. \u201cThe CF had the chance to integrate Circle in 2021 for 3 million dollars, during a time their assets were nearly worth 2 billion dollars. They declined this opportunity, according to their own staff,\u201d he pointed out. He also expressed disbelief at their attempts to shift blame. \u201cYou alter history to evade responsibility. I am grateful you’re no longer part of my team. Dishonesty has no place at IOG,\u201d he added.<\/p>\n

User Jane (@Jane14457995) joined the conversation, expressing discontent with Hoskinson’s attitude: \u201cI’m unsure who’s correct, but your tone suggests self-sabotage. A recent AMA showed your perspective on why Cardano lacks USDC was more complex. Criticizing a former employee should be below you.\u201d<\/p>\n

Hoskinson then elaborated on the CF\u2019s lost chance, accusing them of hindering progress by not financing stablecoin projects and opposing budget alternatives. \u201cThere seems to be endless defense of the CF. Your supposed neutrality is laughable. Those who deceive must be held accountable. The truth is they opted out of the deal in 2021,\u201d he stated.<\/p>\n

He emphasized the community’s strong demand for stablecoins: \u201cThe community desires USDC, CNT liquidity, and improved Oracle support. The CF is capable of facilitating these needs but opts out while obstructing budget measures, leading to a loss for everyone involved.\u201d<\/p>\n

Furthermore, he warned that Cardano’s growth strategy could falter without a stablecoin solution. \u201cInsufficient funding exists to support the ecosystem’s growth, future integrations, and marketing, even if IOG serves pro bono. This issue is critical for the future of the entire ecosystem.\u201d<\/p>\n

<\/span>Considering Collaboration with Ripple\u2019s RLUSD<\/span><\/h2>\n

As discussions continued, Jane recommended a partnership with Ripple, noting a \u201crenewed connection with the Ripple\/XRP community\u201d that might be \u201csimpler and cheaper\u201d than other options. She inquired, \u201cWould IO or Intersect pursue this if the CF doesn\u2019t?\u201d<\/p>\n

In reply, Hoskinson stated, \u201cIf we can realistically integrate RLUSD, I will consider it a gift to the ecosystem. Cardano requires a robust stablecoin framework from USDM, Djed, and RLUSD.\u201d Jane tagged Ripple CEO Brad Garlinghouse, suggesting that collaboration would be beneficial for both communities.<\/p>\n

Hoskinson confirmed that discussions are already happening: \u201cJane, we\u2019ve had conversations with the RLUSD team and are actively exploring options.\u201d<\/p>\n

He had previously indicated that engagements with Ripple were just beginning, aiming to potentially incorporate Ripple’s infrastructure into Cardano\u2019s forthcoming privacy-oriented sidechain, Midnight. \u201cWe\u2019d like Ripple to be part of the Midnight ecosystem,\u201d he said, highlighting this initial collaboration.<\/p>\n

According to Hoskinson, he and Ripple\u2019s CTO David Schwartz have been involved in technical dialogue to explore mutual advantages. \u201cDiscussions are ongoing between the Midnight and Ripple teams, focusing on technological cooperation. We are eager to understand how their systems operate,\u201d Hoskinson noted.<\/p>\n

Despite the positive developments, he recognized that formal partnerships require time, stating, \u201cThe first step involved technical discussions, which were productive with David [Schwartz], who has been incredibly helpful. Beyond that, real integration work and further tasks will be necessary, but overall, they\u2019ve been cooperative.\u201d<\/p>\n

As of this report, ADA is trading at $0.92.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Recently on X, Charles Hoskinson, the CEO of Input Output Global (IOG) and the founder of Cardano, responded to claims regarding the Cardano Foundation’s (CF) handling of stablecoin integrations. He also mentioned new opportunities with Ripple\u2019s RLUSD. This dialogue highlighted ongoing frictions involving Hoskinson, the CF, and parts of the community, as well as Cardano’s […]<\/p>\n","protected":false},"author":14,"featured_media":26191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Cardano\u2019s Visionary Founder Shares Insights on Ripple\u2019s USD Integration and the Collapse of the USDC Deal - Bitrabo","description":"Recently on X, Charles Hoskinson, the CEO of Input Output Global (IOG) and the founder of Cardano, responded to claims regarding the Cardano Foundation's (CF) h"},"footnotes":""},"categories":[316],"tags":[1415,658,5572,1184,1387,684,575,1673,1202],"class_list":["post-26190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-cardano","tag-deal","tag-discusses","tag-failure","tag-founder","tag-integration","tag-ripple","tag-usd","tag-usdc"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=26190"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26190\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/26191"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=26190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=26190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=26190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}