Cardano’s founder Charles Hoskinson took center stage during a recent interview to set the record straight about ADA and the U.S. Securities and Exchange Commission’s (SEC) stance on the token.
“It’s very important to be accurate with our language; there’s no coming after Cardano,” -Charles Hoskinson
No Enforcement Event: A Promise or a Prediction?
Some say that where there’s smoke, there’s fire. But in the case of Cardano, the “no enforcement event” statement seems to be more of a calm assertion than a wild proclamation. Hoskinson reiterated that the SEC has not targeted Cardano’s ADA token. But is this the silence before the storm, or merely the truth?
Coinbase’s Fear: A Delisting Nightmare Looms Large
When Coinbase CEO Brian Armstrong dropped a hint at the possibility of delisting several tokens, including ADA, investors panicked. This announcement was met with a collective gasp from the crypto community, followed by a storm of debates and arguments.
Armstrong’s suggestion that the delisting of ADA could be a “worst-case scenario” sent shockwaves through the crypto space, and the uneasy question lingers: What’s next for Cardano?
The Battle of Words: Input Output Global (IOG) Stands Firm
While the SEC has thrown punches at Binance and Coinbase, alleging unregistered securities, the primary developer behind the Cardano blockchain, IOG, has stood like a rock against the onslaught. Their firm opposition to the proposition that ADA be labeled as security has added fuel to this firestorm.
When compared to Ethereum (ETH) and Solana (SOL), Cardano’s on-chain achievements may seem modest. Ethereum’s decentralized finance (DeFi) total value locked (TVL) towers at a staggering $22 billion, leaving Cardano’s TVL trailing at $162 million.
Yet, Cardano refuses to be overshadowed. The ongoing Marlowe enhancements signal an ambitious push to bolster decentralized applications (dApps) on the Cardano platform.
The Ripple Effect: Hope and a Fresh Offensive
After Ripple’s partial victory against the SEC, a glimmer of hope sparkled in the eyes of crypto enthusiasts. However, the agency seems to be preparing for another round, seeking permission for interlocutory appeal. The battlefield is being drawn, and the stakes are getting higher.
