Cardano Founder Charles Hoskinson Reacts to Gary Gensler’s Recent Speech

Cardano Founder Charles Hoskinson recently spoke about the SEC’s Gary Gensler’s speech on CNBC about the whole cryptocurrency staking scene. Cryptocurrency exchange Kraken had to reportedly close down its cryptocurrency-staking operations following the charges from the SEC. Kraken also had to pay $30 million in settlement charges.

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The SEC stated that the exchange failed to register its staking program, which allows investors to earn a yield. Gensler stated that all these exchanges can easily register by filling out a form on the SEC’s website. Kraken CEO Jesse Powell tweeted about the speech, stating, “Oh man, all I had to do was fill out a form on a website and tell people that staking rewards come from staking?”

Cardano’s founder also retweeted Powell’s tweet, stating that he was blown away by the speech.

Cardano founder says Gensler’s speech is a lie

Hoskinson also stated that there is no way to actually register or comply with cryptocurrency staking with the SEC. He also added that what Gensler said is a lie and that people can spend millions of dollars and years of time and still end up getting no answers.

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Some Twitter users also questioned Gary Gensler’s presence in protecting retail investors from the events, including Terra, FTX, BlockFi, Celsius, Voyager, HodlNaut, and others. He also added that the one thing he did was protect retail investors from making money.