Charles Hoskinson Criticizes Cardano and Ripple Exclusion in Wyoming Stablecoin Project

• Cardano and Ripple excluded from Wyoming stablecoin project.
• Hoskinson accuses Anthony Apollo of pro-Ethereum bias.
• Technical criteria limit Cardano’s inclusion in the project.

Charles Hoskinson, founder of Cardano, has publicly criticized the Wyoming Token Commission’s decision to exclude Cardano and Ripple from the list of blockchains chosen for its new state-backed stablecoin project. The controversy began after the Commission announced nine selected networks, including Ethereum, Stellar, and Sui, but surprisingly left out Cardano, Bitcoin, and Ripple. The decision sparked intense debates about possible favoritism in the cryptocurrency market.

This is the guy who made the decision to exclude Cardano, XRP, ICP, Bitcoin, Hashgraph, etc

But he did include Ethereum. He knows a lot about it, given his former employer was Consensys… https://t.co/wfC2thhTB6

— Charles Hoskinson (@IOHK_Charles) December 14, 2024

In a post on X Platform, Hoskinson accused the Commission’s executive director, Anthony Apollo, of showing bias in favor of Ethereum. He claimed that Apollo, who previously worked at Consensys, one of Ethereum’s main developers, had used his experience with the network to favor Ethereum’s inclusion while ignoring competing high-utility networks like Cardano. Hoskinson called the exclusion unfair and detrimental to the competitiveness of the U.S. crypto market.

During a hearing at the Wyoming Legislative Committee, Anthony Apollo provided detailed explanations about the selection process. He stated that Cardano participated in several meetings and was evaluated using the same criteria as other networks. However, the blockchain failed the “freeze and seize” test, one of the five essential requirements for selection.

Apollo also noted that the Midnight project, developed by Cardano, could have secured approval, but was in the testing phase during the review. According to him, the Commission decided to prioritize technologies that are already fully functional to ensure the robustness and reliability of the stablecoin project.

Despite the justifications, Hoskinson expressed discontent and encouraged excluded networks to consider legal action against the Commission. He argued that the selection process contributes to creating an uneven environment in the cryptocurrency market, harming innovation and competitiveness.

Interestingly, this isn’t the first time Hoskinson has been embroiled in controversy with industry rivals. He recently advocated for collaboration between major networks including Ethereum, Bitcoin and Ripple, suggesting that rivalry is not conducive to the growth of the crypto market in the United States. However, his scathing criticism of the Wyoming Token Commission reignites tensions and highlights the complexity of blockchain disputes.

At the time of publication, Cardano price is quoted at $1,07 with a drop of 3.4% in the last 24 hours.

This exclusion of Cardano and Ripple not only raises questions about the technical and regulatory criteria used by the Commission, but also reinforces the challenges faced by networks in an increasingly competitive sector.