Hoskinson Backs Ripple-Circle Deal to Break “Coinbase A16Z Circle Mafia”

• Charles Hoskinson backs Ripple buying Circle, says it breaks the Coinbase-A16Z monopoly.
• Ripple may offer $11 billion for Circle, double the original offer made in April.
• Hoskinson claims crypto elites blacklist outsiders and wants Ripple to shake it up.

Cardano founder Charles Hoskinson has voiced strong support for Ripple’s potential acquisition of Circle. He argued the deal would break up what he describes as a monopolistic ecosystem dominated by Coinbase and A16Z. In a Sunday AMA session on YouTube, Hoskinson stated the acquisition would improve the crypto sector.

“There’d be antitrust concerns with the Ripple acquisition of Circle. I think it’d make the space better,” Hoskinson stated in the video. He criticized the current market structure and claimed that a coordinated network has created barriers for projects outside their circle.

According to Hoskinson, a “Coinbase A16Z Circle mafia” has built an ecosystem that serves its own interests while excluding external participants. “If you’re outside of it, you get completely blacklisted and it’s hard to get listed. It’s hard to get liquidity, and it’s hard to get a stable coin,” he explained.

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