Charles Hoskinson has responded to the backlash over his comments on XRP and Brad Garlinghouse, saying things got blown out of proportion. He said clips of his statements were cut and shared in a way that made them look worse.
According to him, people are no longer listening to the full context. He clarified that he was talking about Garlinghouse’s actions around crypto regulation, not targeting him personally.
“He’s trying to pass a bill that makes everything by default a security until proven otherwise, which was the treatment Gary Gensler inflicted on his own ecosystem. It’s a non-starter because he knows that he’s going to get an exemption, and it reduces competition,” Hoskinson said.
Opening up about the CLARITY Act, Hoskinson said the bill could treat most crypto projects as securities by default, similar to how Gary Gensler handled things.
What He Said Earlier About XRP and the Bill
Before this, Hoskinson had taken a much stronger tone while reacting to Garlinghouse’s support for the CLARITY Act. He called the bill a “horrific” proposal and said it could favor big players like Ripple while putting pressure on smaller projects.
He pointed out that new projects may have to deal with strict rules from day one, needing to prove they are not securities. At the same time, he raised concerns that companies like Ripple could get certain exemptions, giving them an advantage.
He also mentioned that regulators could use this framework to go after more projects across the space, which could slow down innovation and limit competition.
Where Things Stand Now
His position hasn’t really changed. He still doesn’t agree with the bill, but now says his comments were more about protecting the industry as a whole. Calling it “tough love,” he tried to make it clear that his focus is on the long-term impact, not just XRP.
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