Charles Hoskinson Reveals Shock Over Trump’s ADA Crypto Reserve Decision
Charles Hoskinson, the founder of Cardano, expressed his surprise after learning that U.S. President Donald Trump included Cardano’s native token, ADA, in his proposed U.S. crypto reserve. Hoskinson revealed that he had no prior knowledge of ADA’s inclusion until the announcement was made.
“We knew nothing about Cardano (ADA) being selected for the reserve. It was news to me,” Hoskinson stated in a video released on March 5. He shared that on March 2, he woke up to 150 congratulatory messages but was left puzzled, saying, “I had no idea what the heck was going on.”
“We never even knew about it, and nobody even talked to us about it,” he added. Charles Hoskinson mentioned that he attempted to engage in discussions before receiving responses like, “We’ll call you back” or “We’ll figure it out.”
Trump’s Crypto Reserve Proposal and Market Reaction
On March 2, Donald Trump unveiled his plan for a U.S. crypto reserve, which he stated would “obviously” include Bitcoin (BTC) and Ether (ETH), but also controversially included assets like XRP, Solana (SOL), and Cardano. Following the announcement, ADA’s price saw a massive surge of 76%, jumping from $0.647 to $1.14, before correcting by 30% the next day.
The inclusion of these assets, other than Bitcoin, caused significant debate among industry executives and analysts. Some criticized the proposal for its unorthodox asset selection, questioning the impact of such a diverse reserve.
Charles Hoskinson on the White House Crypto Summit
Charles Hoskinson also commented on the White House’s crypto roundtable that took place on March 7, stating that neither he nor any Cardano (ADA) representatives had been invited to the gathering. “I’m going to operate under the assumption that I have not been invited to go to this gathering,” he said. He added that while these summits are important for raising awareness, real policy work requires extensive collaboration across many sectors.
In light of recent events, it’s clear that the crypto industry remains divided on regulatory approaches, and key decisions about its future will require more than just high-profile meetings.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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