Trump's Surprise Crypto Move: ADA Soars, Cardano Caught Off Guard
1min read Charles Hoskinson, the founder of Cardano, expressed his surprise at the inclusion of ADA in Donald Trump’s proposed crypto reserve, illustrating the unpredictable nature of the crypto market. Despite the excitement surrounding ADA’s surge following the announcement, Hoskinson clarified that the Cardano team had no prior knowledge of the situation, highlighting potential communication gaps within the industry.
“We never even knew about it, and nobody even talked to us about it,” Hoskinson said, emphasizing the lack of dialogue between Cardano and the White House regarding such significant developments. This revelation underscores the need for better communication and collaboration between crypto projects and policymakers.
The announcement of a proposed US crypto reserve by former President Donald Trump on March 2 caused a dramatic upheaval in the market. Among the assets mentioned, Cardano (ADA) experienced a staggering 76% increase within hours, peaking at $1.14 before facing a correction. This volatility exemplifies the market’s sensitivity to influential statements in the political arena.
The excitement around ADA’s inclusion drew mixed reactions from within the crypto community. While many investors welcomed the news, others criticized the selection of tokens beyond Bitcoin (BTC) and Ethereum (ETH). This situation highlights the industry’s varying perspectives on legitimacy and asset selection in the evolving landscape of digital currencies.
In a related development, Hoskinson voiced his concerns regarding the forthcoming White House crypto roundtable on March 7, noting that neither he nor other Cardano representatives were invited. This exclusion raises questions about the inclusivity of policymaking processes that shape the future of cryptocurrencies. “I don’t imagine much policy work will be done,” he remarked, underlining the need for comprehensive dialogue among diverse stakeholders in the crypto space.
Effective policy creation requires collaboration across the industry. As Hoskinson pointed out, gatherings such as the upcoming summit are essential for raising awareness; however, substantial progress necessitates broader participation from various industry counterparts. He cautioned against viewing such summits as mere networking events, stating, “If you believe for a moment that your cryptocurrency is going to do well because somebody went to a ‘vanity fair,’ you’re a fool.”
The inclusion of Cardano in a proposal from a prominent political figure has stirred conversations about the role of cryptocurrency in governance and fiscal policy. This phenomenon underscores the growing intersection between technology and politics, necessitating 