Hoskinson Denies His Involvement With the Controversial ‘Ether Speech’

• Ethereum’s co-founder Charles Hoskinson refutes involvement in “Ether speech” controversy.
• Hoskinson emphasized that the events in question occurred years after his departure, distancing himself from the controversy.
• ADA currently shows signs of a downtrend as it is trading below 200SMA.

Charles Hoskinson, the creator of Cardano and one of Ethereum’s co-founders, has taken to Twitter to refute claims of his involvement in the controversial “Ether speech.” The accusations suggested that Ethereum received favorable treatment from regulators, while other cryptocurrencies faced scrutiny.

The allegations stemmed from a follower sharing a screenshot of emails allegedly sent by former SEC Director of Corporation Finance William Hinman. These emails reportedly contained discussions about Hinman’s famous speech, where he stated that Ethereum should not be classified as a security.

In response to the claims, Hoskinson swiftly denied any involvement and clarified the timeline of events. He highlighted that the emails and other referenced items were dated 2018 and later, long after he had left the Ethereum team in June 2014.

Hoskinson emphasized that the events in question occurred years after his departure, distancing himself from the controversy. He stated, “You got beef with Uncle Joe not Charlie,” firmly denying any role in the matter.

At the reported time, ADA’s candlesticks could be facing a downtrend as it is trading below the 200SMA. Moreover, the RSI continues to fall after the bearish crossover, indicating that the sellers are still in the market and the indicator may fall to the over-sold region soon. Ever since the candlesticks fell below the SMA indicator, ADA’s new target could be at the current 200SMA level. 

Since the candlesticks are currently hitting the lower bands, there may be a chance that ADA could experience a price correction soon. If the price correction happens, then, ADA may have the potential to reach the 200SMA creating a chance for a new trend in the market. However, ADA still needs to show signs of a trend reversal to confirm that the altcoin experience a bull run.

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