Cardano (ADA) founder Charles Hoskinson, who has previously targeted US President Donald Trump, has once again made significant statements regarding Trump.
Speaking to Coindesk, the founder of Cardano claimed that Trump’s cryptocurrency policy was more harmful than Biden’s.
He argued that Donald Trump and his administration’s cryptocurrency policy has harmed the sector more than that of his predecessor, former President Joe Biden’s administration.
Hoskinson sharply criticized the Trump administration’s cryptocurrency policy, including the launch of memecoins named after Trump and First Lady Melania Trump.
At this point, Hoskinson noted that President Trump’s election initially generated optimism in the crypto sector, but that hope vanished when the president and his wife launched memecoins.
“The first thing he did was launch Trump and Melania Coin, which gave the feeling that exploitation was institutionalized. Imagine, the US government is involved in this instead of a Pump.Fun individual.”
Hoskinson argued that the planned launch of Trump and Melania Trump’s own official memecoin in February 2025 shifted the regulatory debate from technical issues to partisan politics and halted progress on important legislation.
“Both the GENIUS Act, which aims to create a federal framework for stablecoin regulation, and the CLARITY Act, which aims to clarify digital asset classification, had received bipartisan support. They had a timeframe in place to garner bipartisan backing. However, as the political climate changed due to Trump’s actions, they were indefinitely postponed.”
In conclusion, Hoskinson argues that Trump’s actions politicized the issue, hindered legislative progress, and impacted the growth and investment environment of the US crypto market. According to him, if memecoins hadn’t been launched, both the GENIUS Act and the CLARITY Act would have already been passed.
*This is not investment advice.
