- Charles Hoskinson said that Cardano is working with Ripple for RLUSD integration.
- Cardano Foundation could’ve integrated USDC in 2021 for $3 million, said a former employee.
- RLUSD currently has a supply of 53.1 million tokens and a market cap of $53.09 million.
Charles Hoskinson, the founder of Cardano, clashed with a former employee over at X platform, who’d made serious allegations against Input Output Global (IOG), the company that developed the layer 1 blockchain network. Incidentally, the ex-employee was questioning IOG’s ADA holdings and USDC adoption initiatives.
Hoskinson Addresses ADA Holdings and Failed USDC Integration
The crypto entrepreneur confirmed that IOG’s ADA holdings are “earned” and not the “people’s money.” He stated the holdings represent “profit for building Cardano,” which is different from the tokens donated to the Cardano Foundation. Hoskinson then discussed the failed attempt to integrate Circle’s USDC in 2021.
Hoskinson confirmed that the Foundation could’ve integrated USDC in 2021 for $3 million but their total holdings at that time were valued at $2 billion. Ultimately, the deal failed because “they turned down the deal, according to their own employee.” He then criticized X user “matiwinnetou” for spreading misinformation.
The Cardano founder believes that matiwinnetou is motivated by a personal vendetta against Hoskinson, IOG, and the Cardano Foundation.
Related: Ripple’s RLUSD Stablecoin Nears Wider Exchange Rollout
RLUSD Integration On Cardano?
During the exchange, Hoskinson revealed that he is working with American fintech firm Ripple and its chief executive Brad Garlinghouse to integrate the new stablecoin with the Cardano ecosystem, potentially fulfilling a major need for the community.
He said that if there is a “reasonable path to integrating RLUSD,” he will cover it “as a gift to the ecosystem.” Hoskinson added that his blockchain “needs a solid stablecoin ecosystem from USDM and DJED to RLUSD.”
Related: Ripple’s Scarcity Model Reinforces RLUSD and XRP Ecosystem
Hoskinson met with the RLUSD team and said that he “really liked” them, calling them “smart professionals.” While the community wants to see popular stablecoins USDT and USDC on Cardano, RLUSD also makes sense.Currently, Ripple controls the supply of RLUSD. According to CoinMarketCap data, the total supply is 53.1 million RLUSD, while its market cap is $53.09 million.
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