Cardano’s Hoskinson warns Trump-backed crypto venture could harm industry

As a seasoned analyst with over two decades of experience in the tech and financial sectors, I find Charles Hoskinson’s concerns about Trump-backed crypto platforms like World Liberty Financial not unfounded. His insights are based on a deep understanding of regulatory landscapes, political dynamics, and the nuances of the crypto industry.


The creator of Cardano voiced apprehensions about the cryptocurrency platform endorsed by Donald Trump, expressing worries that it might trigger regulatory issues and potentially politicize the sector.

Charles Hoskinson, creator of the Cardano (ADA) blockchain, has voiced apprehensions regarding World Liberty Financial, a recently introduced decentralized financial system that is associated with former U.S. President Donald Trump and his offspring.

In a conversation with the Financial Times, Hoskinson expressed concern that Trump’s involvement in cryptocurrency might create complexities within the regulatory arena for the industry. He stated that “Trump’s actions are met with such intense dislike by the left.” Additionally, he urged caution as this political polarization could lead U.S. regulatory bodies to launch investigations, which could in turn create instability in the global crypto market.

Regarding Trump’s previous criticism of Bitcoin as a “scam,” he has now expressed a desire to make the U.S. a leading nation in Bitcoin. However, Hoskinson is doubtful about both Trump and Harris’s capacity to create a favorable climate for cryptocurrency. This is because he feels neither candidate exhibits the depth of understanding required on crypto-related matters.

As a discourse analyst, I haven’t observed such high levels of quality and complexity in the discussions about cryptocurrencies with either Trump or Kamala Harris.

Charles Hoskinson

According to Hoskinson’s remarks, this comes after World Liberty Financial announced their intentions to introduce a governance token called WLFI. This token will be accessible solely to accredited investors under a Regulation D exception. Notably, they have engaged leading security firms to examine and fortify the platform as the uncertainty surrounding regulation remains a significant hurdle.

However, Hoskinson remains skeptical that Trump will be able to deliver on his pro-cryptocurrency policies should he win the November election, raising questions about the government’s ability to foster growth in the sector.

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2024-09-20 14:05