Cardano founder Charles Hoskinson and MicroStrategy CEO Michael Saylor recently had a heated argument. The two disagree over whether the ADA token is a security. One of the names involved in this discussion was Binance CEO CZ. Changpeng Zhao calls for unity over the discussion between the two.
Binance CEO speaks out on Hoskinson-Saylor controversy
cryptocoin.com In this article, we have described what happened between Hoskinson and Saylor. In summary, Michael Saylor recently said that Cardano is a security. On top of that, Cardano founder Charles Hoskinson argued that ADA is a more useful cryptocurrency than Bitcoin. Hoskinson also stated that he did not take Saylor’s allegations seriously. Binance CEO CZ called for unity on Twitter today. Here’s CZ’s explanations, in a rough translation:
The world is too divided. Today is the early adoption process for cryptocurrencies. There are still doubts among consumers that what is bad for one project is just as bad for other projects. Also, the market is not close to saturation at all. This is a phase where we have grown together.
https://twitter.com/cz_binance/status/15488187488811137025
The above tweet from the Binance CEO is geared towards an argument with Charles Hoskinson after Michael Saylor claimed ADA is a security. At a Q&A event, Hoskinson suggested that Cardano is more decentralized than Bitcoin. The founder also argues that ADA is more functional as the main use case of BTC is speculation. Hoskinson’s statements on this subject were as follows:
Nobody controls the ADA. It is completely decentralized. It also has more use cases and benefits than Bitcoin. People buy Bitcoin just for speculation.
On the other hand, Saylor’s statements, which fueled the debate, came in an interview with Altcoin Daily last week. MicroStrategy CEO said it was “pretty clear” that ADA is a security. Saylor’s statement was as follows:
To be a commodity network, it must not be an issuer, ICO and DAO. If you study the history of Cardano, it’s pretty obvious that it’s a security. It controls everything. So I don’t know how you can intellectually convince yourself that this is anything but a security.
Hoskinson targets Saylor and other Bitcoin maximalists. The Cardano founder says they only continue to advocate for Bitcoin as they have a financial interest in succeeding over other cryptocurrencies.
Meanwhile, Ethereum (ETH) founder Vitalik Buterin was involved in a similar discussion on securities. In the hours of the above tension, Buterin said the following in response to a question on Twitter.
