Cardano founder Charles Hoskinson has voiced support for Ripple’s rumored acquisition of stablecoin issuer Circle, stating during a recent YouTube AMA session that the deal could improve competition and fairness in the crypto industry.
Hoskinson dismissed antitrust concerns surrounding the potential buyout, arguing that Ripple could help dismantle what he described as a “Coinbase–a16z–Circle mafia” — a tightly knit network of influence that allegedly controls much of the liquidity, listings, and stablecoin access in the U.S. crypto space.
“If you’re outside that ecosystem, you get blacklisted,” Hoskinson said. “It’s hard to get listed, hard to get liquidity, and hard to get a stablecoin.”
According to Hoskinson, Ripple’s entrance into this territory could challenge the status quo, creating a more open and competitive environment. He also stated that Ripple might serve as a “better custodian” of the stablecoin infrastructure than the current players, particularly on Circle’s side.
Hoskinson noted that he’s heard rumors suggesting Ripple may be willing to pay up to $11 billion to acquire Circle, though no official confirmation has emerged.
If true, the acquisition would represent a massive shift in stablecoin dominance and could bring Ripple’s XRP ecosystem closer to direct competition with USDC, Circle’s flagship product. Hoskinson’s comments add a new layer of intrigue to the speculation, hinting at deeper tensions within the crypto industry’s power structure.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/charles-hoskinson-supports-rumored-ripple-circle-deal-criticizes-crypto-mafia-influence/