In a recent live stream, Cardano (ADA) founder Charles Hoskinson revealed his plan to influence US crypto policy during the Trump transition. Hoskinson is preparing to make his mark on legislation, targeting a key position in the Trump administration, a move that is rocking the crypto community.
The entire crypto ecosystem must come together like the Marvel heroes in the final battle of Endgame to stop Charles Hoskinson from getting close to Trump.
— sassal.eth/acc
(@sassal0x) November 10, 2024
(@sassal0x) There has been no official announcement from Trump. From what we’ve seen, this is simply the Cardano team opening an office in Washington to lobby for crypto.
Still, with a close relationship with Robert F. Kennedy Jr., whom Trump will likely name as his administrator, there’s a good chance Hoskinson will join the team.
What could Charles Hoskinson accomplish in Washington
Hoskinson’s remarks sparked excitement and speculation about his involvement in shaping the regulatory framework for digital assets in the United States. He highlighted the “very clear” potential of his participation, while reminding loyal ADA supporters to temper their expectations of his influence.
“Things are very unclear and a lot of discussions are taking place, and it’s very clear that I’m going to be involved in some capacity in influencing policy in the United States,” Hoskinson said during his live broadcast.
Amid the enthusiasm, Hoskinson was quick to point out that he would be part of a broader team effort with other industry leaders and government stakeholders.
Charles Hoskinson envisions a powerful political office to bring together scattered crypto initiatives. Its mission: to cut red tape and resolve important issues such as asset classification, stable rules, custody protocols and tax laws.
“We are setting up a political office. This will connect all these points together,” he announced.
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Charles Hoskinson: Implications for Cardano and the crypto market
Hoskinson’s big reveal sent ADA up more than 30%, and the market made it clear that he could significantly influence working with Trump.
The Cardano project has focused on the goal of becoming a layer 2 Bitcoin powerhouse, combining the strength of Bitcoin with its own agility. This aligns perfectly with Hoskinson’s ambitious goals to fuel the evolution and adoption of crypto.
Hoskinson stressed the importance of maintaining a bipartisan stance on cryptocurrency regulation, advocating for collaborations that transcend political divisions. Such an approach ensures that crypto technology thrives as a neutral and inclusive economic force.
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Could Charles Hoskin be a figure in the future of crypto regulation?
So what is the reason for the backlash against Charles Hoskinson?
Recent books like “Out of the Ether” or the testimony of Ethereum creator Vitalik Buterin have portrayed Hoskinson as a narcissist and someone who cannot be trusted. It doesn’t help that Charles has taken numerous shots against Bitcoin, while Cardano has severely underperformed this year.
In case you don’t understand this point:
Charles Hoskinson lies about Bitcoin for a living, and there’s no bigger red flag.
P.S. @lexfridman monetize via @coinbase advertising revenue in exchange for providing its platform to scammers. pic.twitter.com/i8LrXzreWw
-Cory Klippsten
Swan.com (@coryklippsten) While discussions around Hoskinson’s potential advisory role continue, questions remain about the structure of these positions. Considerations around managing conflicts of interest and establishing ethical guidelines are critical as the Trump administration becomes the first openly pro-crypto presidency.
Whether Charles takes center stage or remains a spectator is anyone’s guess.
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