Cardano Founder Blasts Trump Over ‘Meme Coin Politics’

3 mins mins

Key Insights:

Hoskinson says Trump Coin shifted crypto from policy focus to politics, slowing bipartisan legislative progress.
He claims early 2025 offered a rare chance to pass GENIUS and CLARITY Acts.
Senate advances limited crypto reforms while broader legislation remains delayed amid political tensions.

Cardano Founder Blasts Trump Over 'Meme Coin Politics' — *Cardano Founder Blasts Trump Over ‘Meme Coin Politics’*

Charles Hoskinson, founder of Cardano, has raised concerns about the Trump administration’s involvement in the crypto industry. He said the launch of “Trump Coin” shortly after the 2024 election changed the tone around U.S. crypto regulation.

Hoskinson had expected positive movement on crypto laws after Trump’s victory. However, he now believes the introduction of Trump-branded tokens has slowed progress.

he said,

“The very first thing he did was launch Trump Coin and it just felt like the extractiveness has now been institutionalized,”

He also suggested that the political branding around the coin damaged trust. Lawmakers, especially Democrats, reportedly became cautious, making it harder to move forward with bipartisan crypto bills.

Crypto Reform Window Closes After Political Shift

Hoskinson said early 2025 had offered a short period where both political parties were open to working together on crypto laws. He noted that this window could have led to the passage of the GENIUS Act and the CLARITY Act.

He stated that the atmosphere changed quickly after the meme coin launch. “The environment could have been entirely different,” he said. In his view, turning crypto into a political tool caused hesitation in Congress and divided support among voters.

Since its release, Trump Coin has dropped more than 80% in value. Hoskinson connected this with a larger loss of momentum in the policy space, where key legislation has stalled.

Concerns Over Leadership and Industry Direction

Hoskinson also questioned the decision to appoint David Sacks as the administration’s lead on crypto policy. He said Sacks was “unqualified” for the role and pointed out that there was no clear process for working with the crypto industry.

He warned that unless clear laws are passed this year, the lack of regulation could continue through 2029. He also said labeling crypto as “corrupt and partisan” would further delay progress and reduce voter trust in the space.

Senate Moves Ahead with Partial Crypto Measures

While broad reform has slowed, the Senate Banking Committee has introduced a draft bill focused on market structure. The bill sets rules for stablecoin rewards and outlines how incentives for staking and liquidity will be handled.

At the same time, the Senate Agriculture Committee delayed a planned hearing on crypto issues. The hearing was pushed back due to ongoing talks to fix remaining problems in the draft framework.

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