Cardano Founder Charles Hoskinson Criticizes Trump Administration’s Crypto Policies

Cardano creator and Input Output Global (IOG) CEO Charles Hoskinson has sharply criticized U.S. President Donald Trump’s administration, claiming its approach to cryptocurrency has left the American crypto industry in a worse position than under former President Joe Biden. In a wide-ranging interview with CoinDesk TV, Hoskinson expressed disappointment with what he described as a lack of structure, coordination, and long-term vision in Trump’s crypto policy.

Hoskinson, who co-founded Ethereum and leads development of the Cardano blockchain, said early optimism following Trump’s election victory in November 2024 quickly faded. According to him, the launch of Trump Coin ahead of the 2025 inauguration symbolized an “institutionalized extractive model” that damaged public trust in crypto. He argued that the U.S. government’s perceived involvement in memecoins—tokens with no inherent utility—blurred ethical lines and fueled speculation, scams, and investor losses. Since its launch, Trump Coin has reportedly lost more than 80% of its peak value.

The Cardano founder believes these memecoin launches undermined a rare opportunity for bipartisan crypto regulation in early 2025. Hoskinson said legislation such as the GENIUS Act and the Clarity Act might have passed more smoothly if concerns over Trump’s crypto business ties had not surfaced. Instead, crypto has become a divisive political issue, stalling progress on regulatory clarity and market structure reform.

Hoskinson also criticized the administration’s internal processes, describing them as chaotic and inconsistent. He claimed industry leaders were not properly consulted, even when Cardano’s ADA token was named as part of a proposed U.S. crypto reserve. He further questioned the appointment of David Sacks as crypto czar, arguing that leadership failures have left the industry without accountability or direction.

While some industry figures remain optimistic about incremental regulatory progress, Hoskinson warned that the window for meaningful reform may be closed until at least 2029. He concluded that the lack of clear strategy and respect for institutional balance has politically “weaponized” crypto, harming its reputation and future in the United States.