{"id":7402,"date":"2025-01-13T16:07:30","date_gmt":"2025-01-13T16:07:30","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7402"},"modified":"2025-01-13T16:07:30","modified_gmt":"2025-01-13T16:07:30","slug":"cardano-founder-discusses-ripple-usd-integration-and-usdc-deal-failure","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7402","title":{"rendered":"Cardano Founder Discusses Ripple USD Integration And USDC Deal Failure"},"content":{"rendered":"
\n

In a recent series of exchanges on X, Input Output Global (IOG) CEO and Cardano founder Charles Hoskinson addressed allegations surrounding the Cardano Foundation\u2019s (CF) approach to stablecoin integrations, while also signaling fresh possibilities with Ripple\u2019s RLUSD. The conversation drew attention to unresolved tensions between Hoskinson, the CF<\/a>, and various members of the community, as well as to Cardano\u2019s potential collaborations with Ripple.<\/p>\n

Conflict Over Cardano Foundation\u2019s USDC Deal<\/h2>\n

The dispute<\/a> began when Cardano staking pool operator @matiwinnetou criticized the CF and Hoskinson directly, claiming they had failed to bring popular stablecoins onto the network. \u201cCardano Foundation (CF) doesn\u2019t work well\u2026 since they have too much ADA and not willing to spend it on multi-million budgets, Cardano Community demands USDC, USDT. [\u2026] It is impedance mismatch of Cardano as decentralised blockchain in centralized L1 space. In addition, Charles Hoskinson often does not help in some respects and puts more oil to the fire than necessary.\u201d<\/p>\n

Hoskinson promptly refuted the notion that IOG was at fault, pointing the finger at the Cardano Foundation\u2019s past decisions regarding a USDC integration. \u201cThe CF could have integrated circle back in 2021 for 3 million dollars. This was when their holdings were worth almost 2 billion dollars. They turned down the deal according to their own employee,\u201d he stated. Hoskinson further remarked, \u201cThen you rewrite history to eschew any of their responsibility and make it into power dynamics? I\u2019m seriously glad you don\u2019t work for me anymore. Dishonest people have no place at IOG.\u201d<\/p>\n

A user named Jane (@Jane14457995) weighed in on the debate, criticizing Hoskinson\u2019s tone: \u201cNo clue who\u2019s \u2018right\u2019, but don\u2019t like the tone & it\u2019s a default that\u2019s IMO self-sabotage. Saw a recent AMA video (9 mos ago) where the issue of why Cardano doesn\u2019t have USDC was much more complicated in your view, Charles. Attacking a former employee s\/b way beneath you.\u201d<\/p>\n

Hoskinson answered with more details on the CF\u2019s missed opportunity. He accused the Cardano Foundation of once again impeding progress by refusing to fund stablecoin-related initiatives while also currently voting against alternative budgets. \u201cAgain, endless defense of the CF and its agents. I love your fake objectivity. When someone lies and misleads, then they will be held accountable. [\u2026] The reality has always been that they passed on the deal in 2021,\u201d he wrote.<\/p>\n

Hoskinson underscored the community\u2019s desire for stablecoin support: \u201cThe community clearly wants USDC. The community clearly wants CNT liquidity. The community clearly wants better Oracle support. The CF could do these things or leave it to the budget. My issue is that while they recuse themselves from the former, they also want to sabotage the latter by voting against the budget. So everyone loses.\u201d<\/p>\n

He further asserted that Cardano\u2019s growth strategy is at risk if no stablecoin solution materializes. \u201cThere isn\u2019t enough funding to cover the ecosystem, its growth, future integrations, and marketing, even if IOG works for free. This is a fight worth having because it is existential to the entire ecosystem\u2019s future.\u201d<\/p>\n

Pivot Toward Ripple\u2019s RLUSD<\/h2>\n

As the discussion unfolded, Jane suggested a stablecoin collaboration with Ripple<\/a>, referencing the \u201crenewed harmony with the Ripple\/XRP community\u201d and hinting that it \u201cmight be easier and cheaper\u201d than pursuing other routes. She then asked, \u201cWould IO or Intersect consider doing that if CF doesn\u2019t?\u201d<\/p>\n

Hoskinson replied, \u201cIf there is a reasonable path to integrating RLUSD, I\u2019ll try to cover it as a gift to the ecosystem. Cardano needs a solid stablecoin ecosystem from USDM and Djed to RLUSD.\u201d Jane tagged Ripple CEO Brad Garlinghouse and suggested that \u201cit seems like a natural fit in terms of ideals and something that could benefit both communities greatly.\u201d<\/p>\n

Hoskinson confirmed that progress is already underway: \u201cJane, we\u2019ve already had a call with the RLUSD people. We are actively talking.\u201d<\/p>\n

Just two weeks ago, Hoskinson revealed that discussions with Ripple were in the \u201cearly days,\u201d hinting at a plan to include Ripple\u2019s infrastructure in Cardano\u2019s upcoming privacy-focused sidechain, Midnight. \u201cWe\u2019d like to include Ripple in the Midnight ecosystem,\u201d he remarked, underscoring initial steps between both teams.<\/p>\n

According to Hoskinson, he and Ripple CTO David Schwartz<\/a> have engaged in technical discussions to determine how each platform could benefit. \u201cThere are ongoing talks between the Midnight people and the Ripple people and a lot of technological talks as well. And we\u2019ve been trying to learn more about how their stack works,\u201d Hoskinson stated.<\/p>\n

Despite the encouraging signals, Hoskinson noted that formal partnerships typically require patience, stating, \u201cFirst step was just technical conversations and that\u2019s what we did with David [Schwartz] who\u2019s been tremendously helpful and a great asset. Then at some point once you\u2019ve got beyond that, then there\u2019s actual integration work and other things to get done, but overall they\u2019ve been easy to work with.\u201d<\/p>\n

At press time, ADA traded at $0.92<\/p>\n

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

In a recent series of exchanges on X, Input Output Global (IOG) CEO and Cardano founder Charles Hoskinson addressed allegations surrounding the Cardano Foundation\u2019s (CF) approach to stablecoin integrations, while also signaling fresh possibilities with Ripple\u2019s RLUSD. The conversation drew attention to unresolved tensions between Hoskinson, the CF, and various members of the community, as […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7402","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7402"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7402\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}