Hoskinson Defends Cardano, Ripple Against Forbes' 'Zombie' Tag

In response to a recent article by Forbes which labeled 20 blockchains as "Crypto Zombies," several prominent figures in the crypto community, including Cardano founder Charles Hoskinson, XRP lawyer Bill Morgan and Anodos Finance co-founder Panos Mekras, have voiced their vehement disagreement and defended their respective projects. 

The term 'Crypto Zombie' was utilized in the Forbes piece to describe blockchains that are trading at values surpassing $1 billion but lack substantial traction or utility. Ripple, Bitcoin Cash, and Cardano were amongst those scrutinized and tagged under this characterization. 

Charles Hoskinson took to Twitter to refute these claims in his humorous yet assertive manner. He tagged all affected parties including Ripple, Tezos and Bitcoin Cash stating "I guess it's because we have brains." This clever quip served not only as an affirmation of his faith in the viability of Cardano amidst other cryptocurrencies but also represented a defense for all Web3 communities implicated by Forbes’ allegations. 

Bill Morgan responded more sternly on behalf of Ripple. Despite ongoing regulatory challenges faced by Ripple he emphasized its continued utility stating that over 80 institutions had signed up with them since the commencement of SEC’s lawsuit against them regardless of its adverse effects on their US business operations. 

Similarly, Panos Mekras from Anodos Finance criticized Forbes for spreading misinformation about cryptocurrencies without conducting basic research into them further highlighting how mainstream media narratives tend to be skewed when reporting on the cryptocurrency industry. 

The contentious Forbes article delved into detail about each blockchain it deemed worthy of being called a ‘crypto zombie.’ It discussed how despite initial promising traction with financial institutions Ripple’s blockchain now operates without much tangible utility thus earning it this disparaging label. Furthermore, even though Cardano has impressive market capitalization numbers due largely to co-founder Charles Hoskinson's popularity rather than any standalone functionality according to the authors; they questioned whether this was enough for its long-term sustainability given current developmental stages. 

The article concluded with a stark warning to potential investors stating "Buyer beware. The lunatics are running the crypto asylum." This statement ruffled feathers within the crypto community as they rallied together in defense against such accusations and allegations of lack of utility or substance. 

This controversy highlights an ongoing debate surrounding cryptocurrencies and their perceived value versus actual functional utility. It also underlines how mainstream media narratives tend to be skewed when reporting on this relatively new and rapidly evolving industry, often leading to misinformation which can impact investor sentiment and market dynamics. 

Despite these criticisms, it’s evident that key players in the cryptocurrency space remain committed to their projects. They firmly believe in their long-term viability regardless of external scrutiny or challenges faced along the way – proving that perhaps Forbes’ characterization may have been premature.