Cardano Founder Hoskinson Critiques Ripple CEO for Not Opposing Crypto Bill
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: Benzinga
- Fierce Criticism: Cardano founder Charles Hoskinson lambasted Ripple CEO Brad Garlinghouse during a livestream for failing to firmly oppose the current cryptocurrency market structure bill, which he believes favors banks and financial incumbents at the expense of decentralized finance.
- Call for Freedom: Hoskinson emphasized that he did not sign up to hand the 'revolution' to banks, stating, 'I signed up for freedom,' and sarcastically dismissed Garlinghouse's 'better than chaos' argument as akin to handing control back to anti-cryptocurrency advocates.
- Coinbase Withdrawal: Coinbase Global Inc. withdrew its support for the cryptocurrency market structure bill just hours before lawmakers were set to vote, resulting in an indefinite postponement of the bill's markup, reflecting widespread dissatisfaction within the market.
- Pressure on White House Official: Hoskinson called for the resignation of White House cryptocurrency czar David Sacks, blaming him for failing to prevent Trump from launching ventures that hindered the passage of cryptocurrency bills, highlighting industry frustration with policymakers.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 226.930
Low
230.00
Averages
361.63
High
440.00
Current: 226.930
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
