Max Keiser Sides with Peter Schiff While Bashing Cardano’s Charles Hoskinson

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Wed, 07/08/2020 - 07:20
Alex Dovbnya
Max Keiser takes IOHK CEO Charles Hoskinson to task over PPP loans and praises Peter Schiff
Max Keiser Sides with Peter Schiff While Bashing Cardano’s Charles Hoskinson
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In an expected turn of events, Bitcoin maximalist and RT host Max Keiser praised Peter Schiff as ‘principled and unimpeachable’ in his latest tweet.  

Keiser sided with Schiff, an unapologetic crypto critic, to get back at IOHK CEO Charles Hoskinson, who recently responded to the backlash he and other industry participants had faced over ‘PPP’ loans.

Max Keiser
image by @maxkeiser

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Hoskinson was at an impasse 

After it came to light that IOHK USA LLC received up to $1 mln worth of bailout money, Hoskinson slammed Cardano (ADA) as a ‘failed project.’   

In his video, Hoskinson acknowledged that PPP was a ‘dumpster fire’ and a ‘bad idea.’ That said, he didn’t like the fact that U.S. taxpayers would fund his competitors (and not him):

‘So, I either have a choice of getting some to recover the fact that my competitors just got some free money or to not do that’        

Hoskinson also mentioned that Cardano was doing ‘okay’ for a failure. As reported by U.Today, the ADA token recently toppled Litecoin (LTC), becoming the seventh-largest cryptocurrency.    

This, evidently, wasn’t enough to assuage Keiser who continued to claim that Hoskinson’s moral flexibility was part of the problem.
 

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Crypto companies can learn from Peter Schiff  

After calling Schiff an ‘imbecile’ and routinely bickering with him on Twitter over the price of Bitcoin, Keiser now claims that Schiff shows the cryptocurrency community how to preserve its integrity with his unwavering stance against PPP loans. 

The gold bug believes that none of the 600 asset management firms that took the money actually needed it to stay afloat and challenged them to prove him wrong.

Peter Schiff
image by @PeterSchiff

Considering how critical the crypto industry is of ‘free money,’ the fact that the likes of ConsenSys and ShapeShift accepted the bailout money sparked quite a controversy.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.