Charles Hoskinson, the founder of IOG (the company behind Cardano), recently responded to Raoul Pal’s criticism of ADA and XRP through a tweet. Pal, a renowned investor and founder of Real Vision, had claimed that the era of XRP and ADA had passed, insinuating that Hoskinson and Ripple CEO Brad Garlinghouse profit from leading cult-like followings for these coins.
Pal Criticizes XRP and ADA as “Old Cults”
In a video extract shared by Hoskinson, Raoul Pal argued that XRP is outdated, stating it belongs to “two bull markets ago.” He advised investors to move toward coins with strong momentum rather than clinging to past favorites. He criticized XRP fans as belonging to a “cult” that benefits only the leaders, not average investors.
He extended this critique to ADA and other coins, labeling them as “cults” as well. Aware his comments might offend, Pal still shared his views with the crypto community.
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In response, Hoskinson tagged Brad Garlinghouse, the Ripple CEO, in a tweet asking, “So @bgarlinghouse, when are we going to the Secret Cult meetings?” Hoskinson expressed confusion over Pal’s criticism, finding it difficult to comprehend the notion of ADA and XRP as cults. He used this tweet to both respond to the criticism and humorously dismiss the idea of cult-like behavior among their communities.
Speculations on Elon Musk and DOGE
In addition to this exchange, Hoskinson previously discussed Elon Musk’s fascination with Dogecoin during a podcast. He speculated that Musk might hold a significant portion of DOGE’s circulating supply, possibly around 20%. Hoskinson also suggested that Musk’s affection for DOGE could be due to its mascot, reflecting his unique and unpredictable interests.
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Through his tweets and public comments, Hoskinson effectively addresses criticisms and speculations, blending humor with his insights.
His response underscores ongoing debates about the relevance and future of coins like XRP and ADA.
