Cardano Founder Says Ripple Would Make Space Better by Buying Circle

Cardano Founder Sees Potential Ripple-Circle Merger as Positive for Crypto Space

In a recent YouTube AMA session, Cardano founder Charles Hoskinson shared his perspective on Ripple's potential acquisition of Circle. He views the deal as a positive development that could strengthen the cryptocurrency ecosystem.

Breaking Up the "Mafia" in Crypto

Hoskinson criticized what he calls the "Coinbase-a16z-Circle mafia" - a closed ecosystem he believes excludes outsiders. He argues that Ripple's involvement could disrupt this dynamic and create more opportunities across the industry.

"I think it would make the space better. There's like this Coinbase-a16z-Circle mafia where they've built an ecosystem, and it's self-serving in that ecosystem, and if you are outside of it, you get completely blacklisted, and it's hard to get listed, it's hard to get liquidity, and it's hard to get a stablecoin," Hoskinson said.

The Potential Deal Details

Reports indicate Ripple previously offered $5 billion for Circle, which was rejected as too low. Hoskinson has heard rumors the company may now be willing to pay up to $11 billion. While both Ripple and Coinbase are potential acquirers, Coinbase may have an advantage due to existing relationships.

Circle filed for an IPO in April but appears to still be considering acquisition offers alongside its public listing plans.

Controversy and Concerns

The potential merger has raised antitrust concerns, with some experts warning it could lead to negative consequences for the crypto market. However, Hoskinson maintains that Ripple would be a better steward for Circle than current industry players.