IOHK Front-runner, Hoskinson – who also happens to represent Cardano – recently expressed his viewpoints on EOS and how the US Securities and Exchange Commission (SEC) is certain to hunt them down for their “egregious” ICO collections of nearly USD$4 billion.

As reported by Crypto Briefing, Hoskinson’s prediction comes from the fact that EOS has been fundraising for an extensive period of time, which he believes is surely to conflict with the regulations imposed by the SEC.

It was also revealed that this topic was brought up by the IOHK leader during a conference in Edinburgh to which he commented:

“I can’t imagine how they’re [Block.One] not going to have some sort of issue with the SEC,” adding that the EOS team’s approach towards fundraising reflected “utter lack of respect for investors.”

Hoskinson’s negative perception on EOS does not come of surprise, considering the fact that the team failed to meet the deadlines of their roadmaps. This includes their failed MainNet launch, the hack that resulted in compromising Block.One’s users’ addresses and information and the well-known reversal of transaction, which goes against the notion of a peer-to-peer system.

Another hypothesis that the leader has since made is that given a court case on EOS does get established, the USD$4 billion raised will end up covering the costs for that, but this is something that’s far into the future.