Trump's Crypto Moves: A Mixed Bag of Policy and Personal Gain

Charles Hoskinson, the founder of Cardano, has been vocal about his concerns regarding former President Donald Trump's approach to cryptocurrency. He believes that Trump's personal ventures in the crypto space have not only been frustrating but have also turned crypto into a partisan issue.

Trump's Meme Coin Launch Derails Bipartisan Momentum

Hoskinson argues that Trump's launch of his own meme coin just before his return to the White House derailed the bipartisan momentum that was building around crypto policy in Congress. This move, according to Hoskinson, quickly turned crypto into a campaign issue for the 2026 midterm elections, with critics using it as a line of attack.

Timing and Optics of Trump's Crypto Ventures

The timing of Trump's crypto ventures, including the launch of World Liberty Financial, has also been criticized by Hoskinson. He believes that while Trump has every right to pursue these ventures as a private citizen, he must also consider the optics of his decisions. Hoskinson argues that the regulatory framework should be established before launching such ventures, not after.

Criticism of Trump's Crypto Reserve Proposal

Hoskinson's criticism extends to Trump's proposal for a U.S. crypto reserve that would include various cryptocurrencies. He argues that government involvement in selecting individual cryptocurrencies amounts to picking winners and losers in the market. He believes that if the government is to have a crypto reserve, it should stick to Bitcoin, which it already holds in significant amounts due to law enforcement actions.

Hoskinson's Firm Stance

Despite the potential fallout, Hoskinson remains firm in his stance. He believes that speaking out about these issues is important, even if it means losing access to policymakers. He argues that maintaining integrity is more important than gaining political favor.