Coinbase(US:COIN) Benzinga·2026-01-20 07:29Core Viewpoint - Charles Hoskinson, founder of Cardano, criticized Ripple Labs CEO Brad Garlinghouse for not opposing the current draft of the cryptocurrency market structure bill, which is perceived to favor traditional financial institutions over decentralized finance [1][2]. Group 1: Hoskinson's Criticism - Hoskinson expressed anger towards Garlinghouse for his lack of strong opposition to the bill, which many in the industry believe undermines decentralized finance [2]. - He emphasized that the current situation is not an improvement over chaos, urging for a fight for integrity and freedom in the cryptocurrency space [3][4]. - Hoskinson dismissed the notion that the bill is a "better than nothing" solution, suggesting it would be better to resist than to concede control to those opposed to cryptocurrency [4]. Group 2: Industry Reactions - Coinbase Global Inc. withdrew its support for the cryptocurrency market structure bill shortly before a scheduled vote, resulting in an indefinite postponement of the bill's markup [5]. - Hoskinson called for the resignation of David Sacks, the White House cryptocurrency czar, if the bill fails to pass in the first quarter, blaming him for inaction that has hindered the progress of cryptocurrency legislation [6]. Group 3: Political Context - Hoskinson, a notable supporter of Trump, accused former President Biden of working against the cryptocurrency industry, highlighting the political tensions surrounding cryptocurrency regulation [7].