Cardano founder Charles Hoskinson criticized U.S. President Donald Trump, arguing that the current administration has left the American crypto industry in a worse position than it was under former President Joe Biden.
Speaking in a wide-ranging interview, Hoskinson said early optimism following Trump’s 2024 election quickly unraveled, culminating in what he described as a deeply damaging policy misstep.
The Input Output Group CEO pointed to the launch of the Trump Coin ahead of the 2025 inauguration as a turning point. While memecoins were already a controversial segment of the market, he argued that the administration’s direct involvement institutionalized extractive behavior.
Since its January launch last year, Trump Coin has lost more than 80% of its value, fueling speculative excess, scams, and a collapse that left many retail memecoin investors with heavy losses.
According to Hoskinson, the rollout of tokens for Trump and Melania Trump also derailed a rare window for bipartisan crypto regulation. Hoskinson believes that without the memecoin controversy, Congress could have passed both the GENIUS Act and the Clarity Act in early 2025.
Instead, Democratic concerns over Trump’s crypto business ties turned digital assets into a wedge issue that stalled progress on a comprehensive regulatory framework.
The Ethereum co-founder also said the administration failed to create structured channels for industry input. Hoskinson described the environment as a predatory free-for-all driven by political donations and influence jockeying, recounted inconsistent White House engagement, including invitations that were extended and withdrawn.
Moreover, Hoskinson stated that his team was never consulted when Cardano’s ADA was included in a proposed crypto reserve.
That said, he also criticized crypto czar David Sacks, calling him unqualified and blaming him for the failure to unify the industry around regulation.
Hoskinson warned that the lost momentum could delay meaningful clarity until 2029.
However, not all industry figures agree. CoinFund President Chris Perkins argued that legislative delays reflect the post-Chevron legal landscape rather than hostility to crypto, and praised current CFTC and SEC leadership for supporting innovation.
Source: https://zycrypto.com/charles-hoskinson-fires-at-donald-trump-for-worsening-crypto-landscape/
