Charles Hoskinson Calls Out Crypto ‘Mafia’ as Ripple Eyes Circle Deal

Cardano founder Charles Hoskinson is welcoming the idea of Ripple acquiring Circle, calling it a move that could disrupt crypto’s insider ecosystem and open up more opportunities for projects like Cardano and XRP DeFi.

In a recent AMA session, Hoskinson addressed ongoing rumors about Ripple possibly acquiring stablecoin giant Circle. Rather than seeing it as a threat, he argued the move could be a much-needed shakeup for the crypto market.

“I think it would make the space better. There’s this Coinbase-A16Z-Circle mafia where they’ve built an ecosystem that’s self-serving. If you’re outside it, you get blacklisted — it’s hard to get listed, hard to get liquidity, and hard to access stablecoins,” Hoskinson said.

By bringing Ripple deeper into the stablecoin game, he believes the deal could break that monopoly and create space for new, more diverse projects. He even said that Ripple could be a better custodian for crypto assets than some of the current industry heavyweights.

Cardano To Integrate RLUSD for Free

Hoskinson also shared that Cardano is in talks with the RLUSD team over bringing it to the Cardano network through Midnight. But if Ripple buys Circle, then it could change RLUSD’s entire plan. Hoskinson also shared that they like the Ripple community and would integrate RLUSD for free. The two teams still need to figure out how it works out.

“We believe XRP DeFi is very important, and a stablecoin is a huge part of that. We’d like to find a way to bring Real USD to Cardano. We’ll integrate RLUSD for free because we like the XRP community,” he said.

He stressed that Midnight could be the ideal platform, due to its seamless integration with Ethereum tools and a trustless bridge to Cardano, making RLUSD feel like a native Cardano app. Midnight also supports private stablecoins, adding more value to the mix.

Hoskinson’s support for Ripple and offer to integrate RLUSD for free shows Cardano’s commitment to a more open, competitive crypto ecosystem. As the acquisition talks heat up, all eyes are now on Ripple and Circle over what this could mean for the future of DeFi.