Cardano founder "Trump's coin business acts as 'poison' to the industry"

Charles Hoskinson, Cardano (ADA) founder, unleashed criticism at U.S. President Donald Trump's personal virtual asset (cryptocurrency) business moves. He argued that Trump issuing a meme coin himself and pushing related projects actually turned what had been bipartisan regulatory discussions into partisan political battles.

In an interview with crypto-focused media Decrypt on the 18th (local time), Hoskinson said, "President Trump's approach to virtual assets, particularly the parts related to his personal business ventures, is very disappointing," adding, "Others in the industry are reluctant to speak about it for fear of adverse consequences."

He pointed out that criticism related to President Trump has become a taboo that must not be touched within the industry. Hoskinson revealed, "We were pressured with statements like, 'Shut up. If you don't want to be deprived of opportunities to meet the president or participate in the legislative process, say nothing.' This was a prevailing notion across the industry."

He especially took issue with the timing when President Trump launched his own meme coin just before returning to the White House. He analyzed, "The moment the Trump coin was launched, the narrative that 'virtual assets are a bipartisan issue' collapsed, and the Democratic Party's attack frame that 'virtual assets equal Trump, and by extension corruption' was completed."

He added, "An individual has the right to do business, but one must not overlook the weight that comes with the position of president," warning, "The order was wrong. Regulations should have been put in place first, and then business should have been started honorably within that framework. If the Democratic Party regains power, there is a high likelihood of being summoned for investigation on the grounds of large-scale market disruption."