Founder Charles Hoskinson said he was sitting on more than $3 billion in unrealized losses during the current crypto market downturn, offering a rare insight into his personal exposure during a period of steep decline.
Speaking from Tokyo during a live broadcast, Hoskinson addressed a market shaken by forced liquidations and falling prices in an inspiring message. Bitcoin fell to around $60,000 over the week, losing around 16% of its value, while the broader CoinDesk 20 Index (CD20) fell 17%. fell 15.6% over the week.
Hoskinson said he shared this figure to counter claims that crypto founders are immune to losses that affect retail investors. He told viewers his financial situation had been hit harder than most people who follow the market.
“I’ve lost more money than anyone listening to this. Over $3 billion now. It would have been very easy to cash out, just walk away,” Hoskinson said.
“Do you honestly think I care if I lose everything? There’s a reason I’m not in the Epstein files, there’s a reason I wasn’t found in FTX,” he added. “It’s not because no one likes me, it’s because my default answer is no. I don’t care if I lose money, I don’t care if it means I’ll be put at the little kids’ table and I won’t be able to go to the White House and all these other things.
In his remarks, Hoskinson emphasized the long-term growth of the ecosystem rather than short-term price movements.
The comparison presented the slowdown as part of a longer cycle rather than a breaking point. Hoskinson added that “every step forward on this difficult road” is progress, adding that he is “here for life, this is who I am and always will be who I am.”
He also said he had no plans to leave office. Instead, he described the liquidation as a period of transition during which financial systems adapt to new technologies.
For example, he highlighted Cardano-based projects such as Starstream and Midnight, which he said are designed for applications focused on data integrity and privacy.
