In a recent statement by Charles Hoskinson, the founder of Cardano (ADA), he voiced his concerns over the potential impact of the upcoming November 2024 presidential elections on the crypto industry. Hoskinson’s remarks come in response to a report by Blockworks, a crypto insights and news provider, which suggested that only a “fool” would base
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In a recent statement by Charles Hoskinson, the founder of Cardano (ADA), he voiced his concerns over the potential impact of the upcoming November 2024 presidential elections on the crypto industry. Hoskinson’s remarks come in response to a report by Blockworks, a crypto insights and news provider, which suggested that only a “fool” would base their vote solely on crypto-related issues.
Hoskinson Opposes Blockworks’ Remark
Hoskinson vehemently opposed the above-mentioned narrative. Moreover, the Cardano founder emphasized the critical importance of crypto in shaping a new social contract that holds governments and corporations accountable to the people. He stated, “Crypto gives us our voices, financial freedom, and shared humanity back. Any politician who wants to rob us of that is dangerous.”
Expressing his stance as a ‘single-issue voter’, Hoskinson highlighted the significance of a presidential candidate’s stance on crypto. He asserted that being anti-crypto equates to the deepest form of totalitarianism. The Cardano founder also emphasized, “Being anti-crypto is the deepest and worst totalitarianism possible. It robs us of our human agency, freedoms, and economic identity.”
Furthermore, Hoskinson warned against the potential consequences of neglecting the crypto industry’s interests in the electoral process. He cautioned that failing to support candidates who prioritize crypto could lead to the implementation of central bank digital currencies (CBDCs), increased financial surveillance, and limited social mobility.
In addition, he clarified that he isn’t endorsing Biden as some people in the community believe. The Cardano pioneer wrote, “I’m on the left and understand that the 20 percent of America that holds crypto is pretty pissed that Biden caused massive harm to our entire industry arbitrarily and capriciously.”
Cardano Founder Says Trump Is Better Than Biden
Responding to queries regarding his reluctance to mention the other candidate [Donald Trump], Hoskinson addressed the issue directly. stating, “Trump? No, I’m not afraid to mention him.” He portrayed Trump as an ‘average’ president who largely left the crypto industry unhindered, providing an environment conducive to innovation and growth.
“He was an average president and mostly left our industry alone, giving us the ability to build in peace the future of the world,” Cardano’s Hoskinson remarked. In contrast, Hoskinson criticized President Joe Biden’s approach toward the crypto industry.
He also accused him of actively seeking to undermine the industry’s growth. He lamented Biden’s actions, stating, “Biden has served Well’s notices to everyone and their uncle and is actively trying to destroy the American crypto industry.”
The Cardano pioneer further added, “Our industry isn’t about building arbitrary products or debating taxes and regulations.” This reflects on the recent crackdown initiated by the U.S. Securities and Exchange Commission (SEC) and the Biden administration.
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