Hoskinson says Trump’s crypto ventures undermined bipartisan push for US regulation

Charles Hoskinson, co-founder of the blockchain engineering company IOHK and the Cardano blockchain platform, mentioned that he believes several aspects of US President Donald Trump’s stance on crypto are “frustrating.” He gave an example of the president’s personal initiative in the sector. 

Hoskinson’s statement drew the interest of many reporters who sought to extract more details from this prominent figure in the crypto industry. Therefore, they made attempts to invite him to an interview to comment on the topic. 

During the interview, several questions were raised. However, Hoskinson pointed out that this matter is a delicate topic about which one cannot say anything. What he chose to comment on was the question of why there is no one else in the industry who has raised this concern. He argued that he had a strong feeling that some individuals in the crypto ecosystem were reluctant to discuss the issue.

Hoskinson cautions about Trump’s move in the crypto industry 

Earlier, when Trump decided to launch his own meme coin just three days after being sworn in as the US president, Hoskinson issued a warning, claiming that this move could significantly harm the cryptocurrency industry, particularly in the United States.

At this time, he noted that what was initially perceived as a careful and bipartisan effort to establish straightforward regulations for digital assets in America had swiftly turned into a partisan issue. 

This situation presented a significant obstacle to crucial legislation and provided a convenient target for critics in the cryptocurrency industry. At this particular moment, the 2026 midterm elections were drawing closer.

“The moment the Trump coin was introduced, the perception shifted from ‘crypto is bipartisan’ to ‘crypto means Trump, which is bad and corrupt,’” Hoskinson explained further, noting that the situation changed into a campaign slogan for the midterm elections scheduled next year.

Hoskinson called on other crypto founders to weigh in on the topic of discussion. However, very few of them voiced this view. This shocked the Cardano founder. According to him, these crypto founders were instructed not to comment on this matter. 

He added that they were threatened that if they said anything about it, their access would be cut short. This meant that one would not have the opportunity to participate in the legislative process or meet with Trump.

Hoskinson admitted that many individuals initially accepted this idea. Nonetheless, he highlighted that the US president’s connection to the crypto ecosystem ultimately blurred the line between policy and personal interests, thereby harming the industry’s image in Washington. This move came at a time when lawmakers were discussing strategies to regulate digital assets. 

Following this outcome, Hoskinson claimed that Trump caused a significant shake-up in the crypto market, arguing that he could be called to testify if Democrats regained power.

Hoskinson disapproves of Trump’s World Liberty Financial project 

Even before the introduction of the meme coin, Trump, his family members, and business partners initiated a big crypto project known as World Liberty Financial. At that time, he was still holding campaigns and making pledges for the upcoming November election. 

The Cardano founder raised concerns regarding this crypto project. According to him, the timing set for this initiative was questionable. Hoskinson argued that as a private citizen of the United States, he can perform such actions, but he must also consider the fact that people are still watching his decisions. 

“You shouldn’t just jump into something and then create rules around it. You should set up the rules first and then proceed according to those guidelines. So I’m not saying to avoid launching the Trump coin or World Liberty; just make sure to do it within the new guidelines.” 

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