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Charles Hoskinson: ‘Under the Trump Administration, We Founded and Built Cardano’

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Charles Hoskinson: ‘Under the Trump Administration, We Founded and Built Cardano’

In a recent video titled “Humility,” Charles Hoskinson, Co-Founder and CEO of IOG (Input Output Global), shared his insights on humility, the current political landscape in the United States, and its implications for the cryptocurrency industry. This blog post delves into Hoskinson’s key points, especially his views on former President Donald Trump and current President Joe Biden, as well as his call to action for the 2024 election.

Hoskinson starts by addressing a Reddit post that critiques him for lacking humility. He clarifies that while he strives to be a decent person who acknowledges others’ contributions, true humility involves recognizing the value of viewpoints other than one’s own. He admits that his logical, mathematical mindset can sometimes obscure the complexities of real-world perspectives.

The Reddit post suggests that Hoskinson struggles with admitting the validity of differing viewpoints. It argues that his approach to logical reasoning might lead to a misunderstanding of the nature of reality and other perspectives. Hoskinson agrees that humility is about recognizing potential misperceptions and valuing other viewpoints.

Hoskinson criticizes the Biden administration for its definitive anti-crypto stance. He attributes this position to a deal made between Biden and Senator Elizabeth Warren during the 2020 presidential campaign. Warren, a staunch opponent of cryptocurrency, was given control over domestic treasury policy, leading to the appointment of many anti-crypto officials in the Treasury Department.

He highlights the administration’s systematic efforts to unbank cryptocurrency companies, evidenced by Wells notices against major players like Robinhood, Coinbase, Uniswap, Kraken, and Binance. Hoskinson points out a clear trend of hostility towards the industry.

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Despite the cryptocurrency industry’s extensive efforts to engage with the Biden administration through meetings, open letters, and private discussions, Hoskinson believes the administration remains unyielding and duplicitous. While claiming to be open to dialogue, the administration has aggressively worked to undermine the industry.


Hoskinson asserts that the Biden administration’s policies have created significant challenges for the cryptocurrency industry, including driving businesses abroad and treating crypto users as criminals.

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Hoskinson contrasts the Biden administration’s hostility with the relatively neutral stance of the Trump administration. While the Trump administration did not provide regulatory clarity, it did not exhibit the same level of adversarial actions toward the cryptocurrency industry.

Hoskinson suggests that a potential Trump victory in the next election might not lead to the same level of hostility towards the industry as seen under Biden. However, he emphasizes the importance of electing pro-crypto candidates regardless of their party affiliation.

Hoskinson endorses Robert F. Kennedy Jr. (RFK) for the presidency, arguing that the American people deserve better leadership than what is currently offered by both Trump and Biden. He believes RFK represents a much-needed alternative.

Hoskinson stresses the importance of the 2024 election for the future of the cryptocurrency industry. He argues that the political consequences of opposing cryptocurrency should be made clear. If anti-crypto stances result in electoral losses, politicians will be forced to reconsider their positions.

Hoskinson argues that the issue at hand is not about humility but about policy. The cryptocurrency industry has consistently approached the government with humility, presenting well-reasoned arguments and data. However, the administration’s actions suggest a predetermined decision to oppose cryptocurrency, regardless of the industry’s efforts.

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In his closing remarks, Hoskinson calls on the cryptocurrency community to vote for pro-crypto candidates in the 2024 election, regardless of their political affiliation. He emphasizes the importance of preserving liberty and freedom and urges the community to fight for a better future.

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Crypto mogul Do Kwon sentenced to 15 years in prison over $40B ‘epic fraud’

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Crypto mogul Do Kwon sentenced to 15 years in prison over B ‘epic fraud’

Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, was sentenced on Thursday to 15 years in prison for for what a judge called an “epic fraud.”

U.S. District Judge Paul A. Engelmayer, who handed down the sentence, sharply rebuked Kwon for repeatedly lying to everyday investors who trusted him with their life savings.

“This was a fraud on an epic, generational scale. In the history of federal prosecutions, there are few frauds that have caused as much harm as you have, Mr. Kwon,” Engelmayer said during a hearing in Manhattan federal court.

Crypto Mogul Do Kwon, shown in 2023, was sentenced in New York federal court on Thursday to 15 years in prison for fraud and conspiracy. REUTERS

Kwon, 34, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, previously pleaded guilty and admitted to misleading investors about a coin that was supposed to maintain a steady price during periods of crypto market volatility.

He is one of several cryptocurrency moguls to face federal charges after a slump in digital token prices in 2022 prompted the collapse of a number of companies.

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Dressed in yellow prison garb, Kwon addressed the court and apologized to his victims, including the hundreds who submitted letters to the court describing the harm they had suffered.

“All of their stories were harrowing and reminded me again of the great losses that I’ve caused. I want to tell these victims that I am sorry,” Kwon said.

Ayyildiz Attila, one of the hundreds of victims who submitted letters to the court, said he lost between $400,000 and $500,000 in the collapse.

Kwon in custody in Montenegro in 2024. AP

“My savings, my future, and the results of years of sacrifice disappeared. I struggled to keep up with payments and responsibilities, and everything I had worked forwas erased,” Attila said.

Kwon’s lawyer Sean Hecker said in an email after the sentencing that Kwon spoke from the heart, expressed genuine remorse and will continue his efforts to make amends.

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US Attorney Jay Clayton in Manhattan said in a statement following the hearing that Kwon devised elaborate schemes to inflate the value of his cryptocurrencies and fled accountability when his crimes caught up to him.

Prosecutors had asked for a sentence of at least 12 years in prison, saying the crash of Kwon’s Terra cryptocurrency caused billions of dollars in losses and triggered a cascade of crises in the crypto market.

Kwon’s lawyers had asked that he be sentenced to no more than five years so he can return to South Korea to face criminal charges.

Kwon was accused of misleading investors in 2021 about TerraUSD, a so-called stablecoin designed to maintain a value of $1. REUTERS

Prosecutors charged Kwon in January with nine criminal counts for securities fraud, wire fraud, commodities fraud and money laundering conspiracy.

Kwon was accused of misleading investors in 2021 about TerraUSD, a so-called stablecoin designed to maintain a value of $1. Prosecutors alleged that when TerraUSD slipped below its $1 peg in May 2021, Kwon told investors a computer algorithm known as “Terra Protocol” had restored the coin’s value.

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Instead, Kwon arranged for a high-frequency trading firm to secretly buy millions of dollars of the token to artificially prop up its price, according to charging documents.

Kwon pleaded guilty in August to two counts, conspiracy to defraud and wire fraud, and apologized in court for his conduct.

“I made false and misleading statements about why it regained its peg by failing to disclose a trading firm’s role in restoring that peg,” Kwon said at the time. “What I did was wrong.”

Kwon agreed in 2024 to pay $80 million as a civil fine and be banned from crypto transactions as part of a $4.55 billion settlement he and Terraform reached with the Securities and Exchange Commission.

He also faces charges in South Korea. As part of his plea deal, prosecutors will not oppose Kwon’s potential application to be transferred abroad after serving half his US sentence.

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Robinhood Sets 2026 Crypto Vision With Expanded Global Access

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Robinhood Sets 2026 Crypto Vision With Expanded Global Access
Robinhood signaled a sweeping 2026 crypto expansion, showcasing accelerating platform growth, wider U.S. and European access, and new products capped by a Layer 2 network aimed at propelling the company deeper into global tokenization and advanced digital-asset trading.
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OCC Clarifies Bank Authority for Regulated Crypto Trade Execution

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OCC Clarifies Bank Authority for Regulated Crypto Trade Execution
U.S. banks won fresh clarity as the OCC confirmed they can execute riskless principal crypto transactions, opening regulated pathways for customer trades while reinforcing safety and compliance expectations across the growing digital-asset market.
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