Overview
- The Cardano founder told Decrypt that the OFFICIAL TRUMP memecoin launch shifted crypto from a bipartisan policy topic to a partisan liability, undercutting momentum for market-structure legislation.
- He said industry leaders stayed publicly quiet to avoid losing access to the White House and lawmakers, and he recounted being disinvited from a Mar-a-Lago crypto dinner after criticizing policy direction.
- The administration created a U.S. Strategic Bitcoin Reserve and floated a broader crypto reserve that referenced multiple tokens, which Hoskinson criticized as government “picking winners.”
- Cardano’s ADA jumped about 70% after being named in the reserve proposal before sliding in subsequent months, a move Hoskinson cites as evidence of market distortion from policy signals.
- Congress passed the GENIUS Act to clarify stablecoin rules while broader bills such as the CLARITY Act stalled, and some industry voices now urge embedding crypto in finance to withstand potential partisan backlash.