Cardano founder Charles Hoskinson stated that the Trump administration politicized and institutionalized "predatory behavior" in the crypto industry by launching meme coins like Trump Coin, which has worsened the situation for the US crypto industry compared to the Biden era. He said this move undermined the bipartisan consensus window for advancing the GENIUS Act and CLARITY Act early in 2025, causing crypto to be labeled as "corrupt and partisan," alienating half of the voters, and leading to a stall in regulatory progress. Hoskinson also criticized the government for lacking a clear framework and industry consultation mechanism, calling the appointment of David Sacks as "Crypto Czar" unqualified, and warned that if market structure legislation is not passed this year, regulatory uncertainty could persist until 2029. (CoinDesk)
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Cardano founder Charles Hoskinson stated that the Trump administration politicized and institutionalized "predatory behavior" in the crypto industry by launching meme coins like Trump Coin, which has worsened the situation for the US crypto industry compared to the Biden era. He said this move undermined the bipartisan consensus window for advancing the GENIUS Act and CLARITY Act early in 2025, causing crypto to be labeled as "corrupt and partisan," alienating half of the voters, and leading to a stall in regulatory progress. Hoskinson also criticized the government for lacking a clear framework and industry consultation mechanism, calling the appointment of David Sacks as "Crypto Czar" unqualified, and warned that if market structure legislation is not passed this year, regulatory uncertainty could persist until 2029. (CoinDesk)