Cardano Founder Reveals What Will Decide The Winner In The US Presidential Elections

Source Bitcoinist
May 20, 2024 18:00

Cardano founder, Charles Hoskinson has shed light on the regulatory and political challenges faced by the cryptocurrency industry. Expressing frustration and discontent with the current United States administration, Hoskinson has urged crypto enthusiasts to take a stance against anti-crypto parties who are contesting in the upcoming US presidential elections. 

Cardano Founder Says “Vote Crypto”

In a recent YouTube video, Hoskinson raised concerns regarding the current US administration’s anti-crypto stance. He emphasized a recent policy statement made by US President Joe Biden, who vowed to veto the House of Representatives’ efforts to oppose the United States Securities and Exchange Commission’s (SEC) controversial accounting policy on crypto assets. 

In response to Biden’s anti-crypto policy, Hoskinson criticized it as “garbage,” alleging that the government was intentionally limiting the growth of the crypto industry in America. The Cardano founder noted that countries like China and regions like Europe had been actively nurturing their crypto industry, establishing clear regulations and adopting less hostile policies and regulations toward digital asset advancements  

Expressing disappointment and frustration, Hoskinson voiced concern over the recent actions of the US SEC and the Biden Administration against the digital asset market, asserting that the administration intends to destroy and severely harm the American cryptocurrency industry. The Cardano founder warned against voting for Biden in the upcoming US Presidential elections, encouraging crypto supporters to take a stand against an administration that continuously undermines the evolution and expansion of the crypto industry. 

Additionally, Hoskinson stated that the US administration was systematically obliterating the American’s race and economic potential. He underscored the potential consequences of the administration’s ongoing enforcement actions, warning that the US risked losing its competitive standing globally and facing a grim future characterized by restricted financial options, mounting debts and a weakened economy. 

Concluding his remarks, Hoskinson passionately stated to “vote crypto,” declaring that “a vote for Biden was a vote against the American crypto industry.”

Will 50 Million Crypto Supporters Decide The Next US President?

According to Hoskinson, there are over 50 million cryptocurrency users in the United States and the election of a US President with an anti crypto agenda could negatively impact the development of the crypto industry. 

More importantly, it could destroy the decentralized foundation cryptocurrencies have been built on, potentially limiting the financial autonomy and security of millions of crypto users in the US, and enforcing actions against good actors within the crypto space. 

As of 2022, the adult population of the US stood at 258 million individuals aged 18 years or older. Should 50 million American crypto users vote against Biden in the forthcoming elections, it would signify that 19.38% of the US adult populace opposes him. 

The percentage could wield considerable influence in determining the next President of the US. With the presidential elections scheduled for November 5, contenders like Donald Trump and Robert F. Kennedy, who are crypto advocates, are vying for victory. 

ADA price chart from Tradingview.com (Cardano founder crypto US presidential elections)
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Copper Long-term forecast: Will Copper Price Expected To Soar In 2023?The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
Author  Mitrade
The price of copper is affected by various of factors. You may wonder how the price of cooper will be in 2023, check out our forecast analysis.
placeholder
Understanding the first crypto market crash of 2024 and what to expect nextThe 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
Author  FXStreet
The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.
placeholder
Natural Gas faces upside pressure as European traders prepare for next heating seasonNatural Gas (XNG/USD) prices are holding ground above $2.00 on Friday after a brief dip earlier this week. Gas prices are quickly recovering as mainland Europe is gearing up for the next heating season, with traders starting to negotiate contracts in
Author  FXStreet
Natural Gas (XNG/USD) prices are holding ground above $2.00 on Friday after a brief dip earlier this week. Gas prices are quickly recovering as mainland Europe is gearing up for the next heating season, with traders starting to negotiate contracts in
placeholder
Bitcoin “Exchange Whale Ratio” Is Rising: Why This Could Be AlarmingOn-chain data shows the Bitcoin Exchange Whale Ratio has been on the up recently, a sign that could prove to be bearish for the asset’s price. 60-Day MA Bitcoin Exchange Whale Ratio Has Been Rapidly Climbing Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the Exchange Whale Ratio has seen sharp […]
Author  Bitcoinist
On-chain data shows the Bitcoin Exchange Whale Ratio has been on the up recently, a sign that could prove to be bearish for the asset’s price. 60-Day MA Bitcoin Exchange Whale Ratio Has Been Rapidly Climbing Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the Exchange Whale Ratio has seen sharp […]
placeholder
Bitcoin price today: slides to $65k amid high liquidations, ETF outflowsBitcoin (BTC) fell in early Asia trading on Tuesday, erasing all of the gains it mate a day earlier, driven by ongoing profit-taking and continued net outflows from U.S.-listed bitcoin exchange-traded
Author  Investing.com
Bitcoin (BTC) fell in early Asia trading on Tuesday, erasing all of the gains it mate a day earlier, driven by ongoing profit-taking and continued net outflows from U.S.-listed bitcoin exchange-traded
goTop
quote