Cardano founder: "Lost $3bn in the recent bear market…focused on blockchain development"
Summary
- Charles Hoskinson said he suffered $3bn in losses in the recent bear market but did not cash out and walk away.
- He said the market could get worse, but emphasized the importance of not stopping collaboration and development.
- Hoskinson said that across the ADA and Cardano ecosystem, key projects including Hydra, Leios and Midnight are advancing, and that the foundations for infrastructure, governance and commercialization are being established.
Charles Hoskinson, founder of Cardano (ADA), has admitted he suffered major losses during the market downturn.
According to Crypto Briefing on the 6th (Korea time), Hoskinson said in a livestream, "It might be easy to say I can endure because I have a lot of money, but I have lost more than $3bn (about KRW 4 trillion) so far," adding, "Cashing out and leaving would have been easy, but I’m not doing this for the money."
He also underscored his commitment to blockchain. "It doesn’t matter even if I lose everything," he said. "I’m doing this for the technology and values, not for money."
On market conditions, he said, "It could get worse," but added, "What ultimately matters is not stopping collaboration and development." He continued, "People in the digital asset industry are working on something that has the potential to change the world."
Hoskinson also offered an optimistic outlook for ADA and the Cardano ecosystem. Citing progress in key projects such as Hydra, Leios and Midnight, he stressed that "the foundations for infrastructure, governance and commercialization are being put in place."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
