Cardano's ADA Surges 1.295% Amid Political Intrigue

Cardano's latest price was $0.7764, up 1.295% in the last 24 hours. Charles Hoskinson, the founder of Cardano, recently broke his silence regarding the mysterious Mar-a-Lago ‘diet coke’ dinner that never took place. He detailed a series of confusing and strange events that began in September 2024 at the SALT conference in Jackson Hole, where he first discussed the possibility of establishing a crypto czar and a wider crypto commission with advisers who later joined Trump’s transition team. Hoskinson expressed his willingness to serve if Trump won the presidency.

Despite Trump’s victory, the appointment went to David Sacks, who combined the role with an artificial-intelligence portfolio. A commission chaired by former Congressman Bo Hines was proposed, but clarity on the matter remained elusive. Hoskinson received an invitation to a February 22 VIP dinner at Mar-a-Lago, which was later rescheduled to March 1 due to Trump’s meeting with Ukrainian President Volodymyr Zelenskyy. Hoskinson prepared extensively for the meeting but was disinvited just as he was about to board his flight to Florida. He continued with his previously scheduled meetings in Florida but never received an explanation for his removal.

Hoskinson’s revelation was prompted by a Politico article that exposed how lobbyist Brian Ballard or someone in his orbit tricked Trump into making a Truth Social post about a crypto reserve that included Cardano’s ADA, XRP, and SOL. Hoskinson insisted that his public stance has always been that only Bitcoin should be included in any reserve. This stance was aired in multiple interviews and elsewhere, but he became associated with ADA’s inclusion, leading to pushback from incoming technology adviser David Sacks. Sacks was reportedly furious when the list became public and tried to reverse the decision, although it could not be undone quickly. Hoskinson believes that someone close to Ballard feared he would publicly oppose the multi-asset reserve if seated near Trump, potentially before dessert.

Adding to the confusion, Hoskinson mentioned a February 5 social-media quip where he joked about not wanting to pay five million dollars for dinner, a reference to a 2020 XRP-community fundraiser. This line was allegedly used as an official-sounding pretext for his removal. The fallout extended to the West Wing, where staff briefed journalist Laura Shin that Hoskinson had nothing to do with any crypto policy and had never been invited to Mar-a-Lago. Hoskinson refuted this, sharing the invitation card during his livestream. He characterized the White House’s actions as highly credible, with audible sarcasm. Hoskinson directed his frustration not at Trump or his children but at a few Democrats portraying crypto as a partisan issue and at the inside-the-Beltway lobbying that blindsided him. He emphasized the legislative momentum, including the Genius Act, market-structure talks, and growing bipartisan consensus on stable-coin regulation. Lawmakers, he argued, are easier to map than executive-branch operators because they say plainly what language they want over a good steak.

In the closing minutes of his livestream, Hoskinson reiterated his conviction that crypto policy must outlive any single administration. He invoked the Securities Exchange Act of 1933 as a template for enduring statute. The Cardano policy office, run by former Wyoming regulator Karen Wheeler and attorney Joel Telpner, will continue engaging with Congress, the CFTC, and the SEC regardless of Oval Office intrigues. Hoskinson’s lesson from the episode is simple: “Welcome to politics. It’s distasteful. It’s serpentine. But the truth always comes out.”

Cardano (ADA) has recorded a significant development that could flip future trends. The coin has flashed a golden cross on its hourly chart as the price jumped. This is particularly positive news for short-term traders as the price has climbed. According to CoinMarketCap data, the coin rose from a low to reach its current level. There has also been a corresponding surge in trading volume, spiking within the same period. The development signals a bull market for ADA. Many consider the golden cross a bullish signal, suggesting that ADA has the potential for more upward price momentum. Interestingly, during trading, ADA hit a high, fueling anticipation that the asset might break the $1 level soon. If ADA flips this price, it could replace Dogecoin as the eighth-ranked asset in the top 10 per market cap ratings.

With this development, ADA is on the verge of breaking the $0.80 resistance level. As the coin makes a bold comeback move, it needs to break the resistance and would require ecosystem support to stay above it as it eyes $1. Meanwhile, the Cardano ecosystem recently achieved a milestone as the second most distributed cryptocurrency. It was surpassed only by Bitcoin, which also has a fixed supply. While Bitcoin is capped at 21 million, Cardano has a cap of 45 million.