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Cardano founder Charles Hoskinson criticized Donald Trump’s TRUMP coin and his family’s involvement in crypto, saying it politicized the industry and threatened his credibility in Washington.
Hoskinson told Decrypt that Trump and his family’s crypto projects, including the OFFICIAL TRUMP (TRUMP) token and World Liberty Financial, have blurred the line between self-interest and politics.
“The minute Trump Coin launched, it went from ‘crypto equals bipartisan’ to ‘crypto equals Trump equals bad, equals corruption,’” Hoskinson said. “You don’t do something and then create a regulatory framework. You create the framework and then do this thing in honor of that framework. So I’m not saying don’t flip the Trump coin or World Freedom, but just flip them in the new framework.”
He warned that Trump’s involvement was disrupting markets and could be weaponized in the 2026 midterm elections, while claiming that most in the crypto industry are afraid to speak out on the issue for fear of losing access to policymakers.
“We were told, ‘Keep quiet,’” he said. “Don’t say anything, because you will lose access. You will never be able to meet the president, you will not be able to be involved in the legislative process or anything like that.”
OFFICIAL TRUMP Meme Imploded After Initial Push
Trump launched the OFFICIAL TRUMP (TRUMP) meme coin before his inauguration in January. It boomed at launch then crashed and is now down over 82%.
TRUMP Price (Source: CoinGecko)
“As a private citizen, he has every right to do these things, but he has to understand that he is not divorced from the optics of the decisions that he makes,” Hoskinson said. “You have just created a massive market disruption and you are likely going to be subpoenaed when the Democrats return to power. »
Trump pledged to make the United States the “crypto capital of the world” during his election campaign, and has appeared determined to deliver on that promise since entering the White House, launching a series of pro-crypto policies.
He signed an executive order to establish the U.S. Strategic Bitcoin Reserve, created a White House Digital Assets Task Force to coordinate regulatory agencies to help achieve his vision of making the U.S. a crypto hub, and signed the GENIUS Act in July, creating regulatory clarity for stablecoins.
Democrats Slam Trump Family Involvement in Crypto
Trump has already faced criticism from Democratic lawmakers, who have repeatedly expressed concerns about a potential conflict of interest.
When Trump hosted a lavish gala dinner for major holders of the TRUMP meme coin, Sen. Elizabeth Warren called the event an “orgy of corruption,” warning that the public has no idea who is buying influence with the president or what they might receive in return.
Reminder: Trump is pushing for crypto legislation to continue lining his pockets.
President Bush’s former ethics lawyer says we haven’t had a president since the Civil War with such a conflict of interest.
We should not pass any crypto legislation without putting a stop to it. pic.twitter.com/GIIv9UapZc
-Elizabeth Warren (@SenWarren) July 10, 2025
Guests at the event included TRON founder Justin Sun, the largest known holder of the TRUMP token at the time, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia.
They were served high-end dishes like filet mignon and molten lava cake, and given Trump-branded watches worth $100,000, raising concerns about possible political favoritism and paid access.
Protesters gathered at Trump National Golf Club to denounce the event, carrying signs reading “America is not for sale” and “Stop Crypto Corruption.”
Despite the risk of consequences if he opposed Trump’s involvement in crypto, Hoskinson said he did not regret his decision to move forward.
“Even if I could influence policy a little bit, it’s not worth it from an integrity standpoint,” he said. “Call a spade a spade.”
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