Charles Hoskinson Encourages XRP to Join Class Action Against Wyoming Stable Token Discrimination
Looks like there’s some drama brewing in Wyoming! Charles Hoskinson, the mastermind behind Cardano, is not too pleased with the Wyoming State stablecoin project. He’s upset that Cardano, along with Ripple, Algorand, and others, got left out of the fun. Alleging a conflict of interest, Hoskinson has hinted at a potential class action lawsuit against the state.
It seems Cardano was part of the early discussions for the Wyoming Stable Token (WST) project, but somehow got the boot in the final round. The chosen ones included Solana, Avalanche, Stellar, and Ethereum, along with layer-2 networks like Polygon, Arbitrum, Base, and Optimism. Quite the exclusive club, right?
In a video, Hoskinson expressed his disbelief that high-utility chains like Tezos and Algorand were also overlooked. He even questioned how Stellar made the cut over Ripple. There’s definitely a mystery to unravel here.
Hoskinson suspects foul play in the decision-making process and believes that certain folks might have had a hand in rigging the game. He argues that this lack of transparency creates an unfair advantage for the selected chains and a disadvantage for those left out. The state’s good-faith procurement laws might have been violated, he claims.
The Wyoming Stable Token (WST) project is still underway, with plans to launch in early 2025. The state is working on partnerships and rules to back the token with U.S. dollars and short-term Treasuries. The goal is to use the stablecoin for everyday spending and pump the interest earned back into public schools.
Hoskinson has rallied the community to challenge the selection process and demand transparency. Who knows what will happen next in this wild Wyoming stablecoin saga!
