Wyoming

Wyoming-Based Crypto Founder Slams State Over Stable Token Bid Process

Published

1 year ago

November 26, 2024

Wyoming-Based Crypto Founder Slams State Over Stable Token Bid Process

Wyoming ranch owner Charles Hoskinson, who also is the founder of the Cardano cryptocurrency platform, has taken to social media to blast Wyoming’s process of creating its own stable token, saying that it hasn’t been transparent and unfairly excluded his company.

The criticism follows an announcement from the Wyoming Stable Token Commission announcing that it has begun taking requests for proposals from pre-qualified vendors, which it identified as Solana, Avalanche, Sui, Stellar and Ethereum. The latter includes a bullet point that it is “inclusive of layer-2 networks Polygon, Arbitrum, Base and Optimism.”

None of the other platforms include any explanatory bullet points.

Wyoming Stable Token Executive Director Anthony Apollo also said in the announcement that those are the networks the state’s Blockchain Selection Working Proup has determined to be “in-scope” for the initial deployment of Wyoming’s stable token. Stable tokens are a type of cryptocurrency where the goal is to hold a static value. In Wyoming’s case, a single stable token would be worth $1.

Apollo said his office is working on an official statement about the stable token flap with Cardano and declined an interview with Cowboy State Daily about it.

Hoskinson told Cowboy State Daily he feels blindsided by the commission’s announcement. He said it’s unfair for the state to make such a selection without having first publicly listed what the qualifications would be, giving the 30,000 or so blockchains, including his own, a fair opportunity to decide if they can meet those qualifications within the state’s timeframe.

As a consequence, Hoskinson said, the “largest Wyoming-based blockchain company in the world, with hundreds of employees in Wyoming, can’t even bid on the RFP at this point.”

Instead, Cardano added, “companies in California, New York and in Singapore — financial institutions outside of Wyoming, with no connection to Wyoming — are going to be involved in implementing the Wyoming stable coin. That’s what happened.”

Black Eye On State’s Fairness

In a video he posted to X (formerly Twitter) on Monday, Hoskinson said he had advocated very strongly that all the functional and non-functional requirements be published by the commission so that any cryptocurrency platform that wanted to vie for development of the stable token could build a prototype demonstrating whether their ecosystem could support Wyoming’s requirements.

“Initially, this appeared to be the direction that the commission was pushing,” Hoskinson said. “And then, suddenly, the executive director and commission just decided to create their own criteria and act as judge, jury and executioner in a very short period of time … to score blockchains themselves.”

Hoskinson suggested that Apollo, who is a former employee of Consensus, which developed Ethereum, has been biased against other platforms from the start, adding that the director had even mentioned during one of his first meetings that it was his belief the stable token should just be built on Ethereum first.

That was something Hoskinson immediately pushed back on.

“I mean, they passed 31 cryptocurrency laws, and none of them said, ‘Hey, bitcoin’s great, but Ethereum is bad or Ethereum is great,” he said. “They said these are the rules and as long as you follow them, you have clear rule of law and regulation, which is why so many cryptocurrency companies relocated to Wyoming, mine included. Because we believed everybody would be treated equally.”

The decision to exclude so many blockchains and ecosystems in what Hoskinson characterized as an arbitrary way is a “black eye” on the state’s fairness, he said.

“There was no real opportunity for public comment,” he said. “There was no opportunity for appeals or rebuttal. After picking a short list, Cardano was excluded, saying that we didn’t have certain capabilities — which we actually do — although we were never told that these capabilities would be necessary, so we had no opportunity to prepare a prototype.”

‘Fair, Open And Public’

Senator Chris Rothfuss, who was instrumental in developing Wyoming’s digital asset laws, including the Wyoming Stable Token, told Cowboy State Daily he believes the process was fair.

“It was designed to be fair, open and public, with a clear set of criteria established by subject matter experts to evaluate candidate blockchains for issuing WYST,” he said.

That criteria list included a requirement for “freeze and seize.” The phrase seems to refer to the seizure of a questionable cryptocurrency asset, a capability that would likely be required by the Securities and Exchange Commission during an investigation, to forestall any money laundering.

That’s a capability that Cardano does not yet have, Cowboy State Daily was told, but could have been working on in anticipation of the need, if the state had been transparent about releasing its criteria to the public.

Rothfuss, however, also suggested that the selection process isn’t necessarily finished at this point.

“This process is dynamic,” he said. “And pre-qualified blockchains will evolve as their capabilities evolve. For example, I anticipate that Midnight, a layer 2 network for Cardano currently in a test state, will be prequalified once its capabilities are ready.”

Rothfuss added that feedback and corrections are also welcomed.

“The Cardano community is encouraged to provide updated information if any assumptions in the evaluation were inaccurate,” Rothfuss said. “Wyoming remains committed to a technology-neutral approach, ensuring WYST operates across multiple blockchains to support our broader goals of innovation and compliance.”

Who Is Hoskinson And What Is Cardano

Cardano has long been a heavy-hitter in the cryptocurrency sphere, with a blockchain that is capable of processing a million transactions in a second.

The platform was created by Hoskinson in 2017 as his idea for the next logical evolution of Ethereum, and is billed by the Ethereum cofounder as the “third generation” for cryptocurrency platforms, with bitcoin the first, Ethereum second, and Cardano the third.

“My company, Input Output, is one of the companies that created Cardano, and it is worth, it trades $34 billion in dollars every single day,” Hoskinson said. “I also have hundreds of employees based in Gillette for other business ventures, like I own a large healthcare clinic up there. We have 10,000 patients with Hoskinson Health.”

Hoskinson’s company also has a digital assets laboratory, where it works with the University of Wyoming in developing this sector.

“It’s by far the largest blockchain project that has a — it’s the only blockchain project in the top 10 — that has a nexus in Wyoming,” Hoskinson said.

Cardano began allowing the creation of native tokens like NFTs or stable coins starting in 2021, but unlike Ethereum, Cardano doesn’t restrict such tokens to smart contracts. Instead, they run on the same platform as the platform’s cryptocurrency unit, ADA, making them what Cardano describes on its website as “first-class” citizens on the blockchain.

Cardano said it believes that makes the tokens more secure, and that it will reduce the fees associated with such transactions.

Cardano’s process also uses a different mechanism to validate blockchain transactions, one that’s less energy intense.

A Stable Token For A Dollar

Hoskinson was among vocal supporters of the Wyoming Stable Token when it was unveiled a year and a half ago, and he even offered at one point to build the state’s stable token for a dollar.

“It’s not about making money,” he said. “I just care about making sure it’s done right. If Wyoming is going to do this, it has to be done in a way that benefits the state.”

Hoskinson said he’s attended many meetings over the past year and a half and reviewed hundreds of documents related to the stable token..

“What’s happened over time is that the process went from open to more and more secretive,” he said. “Where certain subcommittees were closed and people weren’t really sharing information with people. It went from, ‘Hey, this is going tot be an open RFP process and open RFQ process, and the merit-based qualifications will come in’ to ‘we’re going to go ahead and the state will just arbitrarily select according to our own criteria, with no oversight, winners and losers.’”

The exclusion of not just Cardano, but bitcoin and the thousands of other blockchains in this manner is a head-scratcher, Hoskinson said.

“Bitcoin is larger than all the other cryptocurrencies combined, and Trump wants to do a strategic reserve, and Senator (Cynthia) Lummis is a huge fan of Bitcoin,” Hoskinson said, adding that, “It’s extraordinary to me” that Bitcoin would be excluded.

Hoskinson said he still believes in Wyoming and that things will get “remedied” in time.

“I don’t know why they made these decisions,” he said. “They were done in a very opaque and not so transparent way, but we’re just gonna move forward. I believe in this state, I live in this state, I employ hundreds of people in the state and put hundreds of millions of dollars into the state. I’m going to continue doing that because I live here.”

Renée Jean can be reached at renee@cowboystatedaily.com.

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Wyoming

Wyoming Has Half Of The West’s 26 100-Year-Old Dude Ranches

Published

1 hour ago

March 29, 2026

Press Room

Wyoming Has Half Of The West’s 26 100-Year-Old Dude Ranches

Like many rabbit holes, it all started with a simple question.

About two years ago, Jaye Wells was at a small gathering in Cody when the topic of the 2026 centennial anniversary of the Dude Ranchers’ Association came up.

Wells asked how many dude ranches in the country had a comparable 100-year legacy to the Cody-based member organization.

“Nobody in the room knew,” said Wells, co-founder of the True Ranch Collection, with a portfolio of dude ranches around the West, including the Blackwater Creek Lodge and Guest Ranch in Cody.

Thus began a yearslong and, at times laborious, project of tracking down the number of dude ranches in operation since 1926, which are commemorated in “100 Years of Dude Ranching,” a coffee-table-style book published by Wells in December.

Though it took a lot of digging through records at the Wyoming Historical Society, old newspaper clippings and cross-referencing family records, the team behind the book finally identified a fitting answer to Wells’ question.

Of the 94 dude ranches that are members of the association today, 26 were in operation and accepting guests a century ago.

“That shocked us,” Wells said. “Every ranch has got its own little curiosity.”

The team behind the book was strict about the criteria it established: To be included in the book, a dude ranch must have been accepting guests in 1926. Had they expanded their criteria, the list would have been even longer.

“There are a lot of ranches that are 97 or 98 years old,” Wells said.

A Tribute To Hospitality

As much as the book celebrates the long legacy of dude ranching, it also serves as a tribute to a unique way of life — particularly in Wyoming.

The state is home to half of the 26 centennial ranches: A Bar A Ranch (Encampment), Absaroka Ranch (Dubois), Blackwater Creek Lodge and Guest Ranch (Cody), CM Ranch (Dubois), Crossed Sabres Ranch (Cody), Darwin Ranch (Jackson), Eatons’ Ranch (Wolf), the Hideout Lodge and Guest Ranch (Shell), Medicine Bow Lodge and Guest Ranch (Saratoga), Paradise Guest Ranch (Buffalo), Rimrock Ranch (Cody), Shoshone Lodge and Guest Ranch (Cody), and Triangle X Ranch (Moose).

As the book details, the origins of dude ranching trace back to the 1880s, when a ranch near modern-day Medora, North Dakota, began charging guests from back East room and board when they’d come out West to hunt bison and other big game.

The word “dude” had become a popular term by that time for a man with fancy duds.

More and more ranches started opening up to guests in the 1900s, including welcoming many young men whose parents had sent them West to dry out and stay out of trouble.

“You had to be wealthy to stay at a dude ranch back in the day,” Wells said.

But life on these ranches today might look surprisingly similar to a century ago.

Ranch hands might start rounding up horses at 4:30 in the morning and preparing breakfast so it’s ready for guests when they awaken, Wells said. In addition to historic photos of the ranches, photographer Scott Baxter spent four months on the road capturing how the ranches look now.

While still offering a vacation that’s more expensive than a typical tourist might be able to afford, Wells said one of the constants at the centennial ranches spread across four states is the service and experience they offer.

“The strongest element that’s kept dude ranching going all that time is a common denominator,” Wells said. “It’s the desire to offer great hospitality.”

As much as the book celebrates dude ranches, it’s also a tribute to a unique way of life, particularly in Wyoming. “It’s such a tough business, but it’s such a joy,” said Jaye Wells, who owns the Blackwater Creek Lodge & Guest Ranch in Cody. (Courtesy Scott T. Baxter)
It was while kicking around ideas for the 100-year anniversary of the Dude Ranching Association that Jaye Wells asked how many ranches have a similar legacy. “Nobody in the room knew,” Wells recalled. That’s how the new book “100 Years of Dude Ranching” was born. (Courtesy Scott T. Baxter)
As much as the book celebrates dude ranches, it’s also a tribute to a unique way of life, particularly in Wyoming. “It’s such a tough business, but it’s such a joy,” said Jaye Wells, who owns the Blackwater Creek Lodge & Guest Ranch in Cody. (Courtesy Scott T. Baxter)
As much as the book celebrates dude ranches, it’s also a tribute to a unique way of life, particularly in Wyoming. “It’s such a tough business, but it’s such a joy,” said Jaye Wells, who owns the Blackwater Creek Lodge & Guest Ranch in Cody. (Courtesy Scott T. Baxter)

Pressures To Modernize

Even so, dude ranch owners do feel some pressure to modernize to appease guests who have become downright uncomfortable unplugging.

Such changes have seen ranches offering Wi-Fi, say, or packing days with lots of activities.

Even though guests will quickly learn that riding a horse all day is exercise in and of itself, Wells said he’s felt that pressure, too. “We have a full-blown exercise room at White Stallion Ranch,” he said of one of his ranches near Tucson, Arizona. “You have to have it now.”

What’s more, even though guests will rave about how relaxing they find their stay or how much they appreciate the quality time with loved ones, they’re booking shorter and shorter stays.

In the 1920s, people from out East might come to a ranch for months at a time, and there was a time not so long ago when a one- or two-week stay was the norm.

“Now, guests only want to stay three nights. That’s the number one trend in the business we see,” Wells said. “We forget we’re so connected now, it’s almost too much. We’re being bombarded by information 24 hours a day.”

Wyoming has 13 100-year-old dude raches, half of the 26 centennial dude ranches in the West. That's one of the things the team behind the new book — Wyoming has 13 100-year-old dude raches, half of the 26 centennial dude ranches in the West. That’s one of the things the team behind the new book “100 Years of Dude Ranching” learned in documenting the industry’s century of Western hospitality. Above is a scene from the Blackwater Creek Ranch. (Courtesy Scott T. Baxter)

‘It’s Such A Joy’

Putting this book together gave Wells a newfound appreciation for the diversity of Wyoming’s topography and landscapes.

The project also offered constant reminders about why he loves dude ranching so much and how pivotal the business was to shaping the West.

Of course, he’s also reminded of how unique this business is while conversing with guests over the years — including tourists from abroad who marvel at the idea of being able to shoot a gun, spend a week bonding with a horse or simply get to decompress in a way they haven’t been able to do since childhood.

“I would venture to say it’s one of the most iconic symbols in the world,” Wells said of dude ranching. “It’s such a tough business, but it’s such a joy.”

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Wyoming

(PHOTOS) Casper Holistic Expo packs the Central Wyoming Fairgrounds

Published

13 hours ago

March 28, 2026

Press Room

(PHOTOS) Casper Holistic Expo packs the Central Wyoming Fairgrounds

CASPER, Wyo. — There was magic, or something like it, in the air on Saturday as the Central Wyoming Fairgrounds presented the 2026 Casper Holistic Expo, Casper’s longest running holistic expo and a hallmark of the beginning of spring in Natrona County.

Countless vendors from Casper and beyond gathered with their goodies to present them to eager customers searching for something a little different.

The holistic expo featured crystal and metaphysical shops, tattoo and body piercing studios, henna and glitter tattoo studios, holistic shops, tarot readings, fortune tellers, magic and so much more. There was truly something for everyone, and Christina Kuhn, the lead organizer, said that nobody who came to the expo would leave disappointed.

“This actually started over 20 years ago,” Kuhn said. “I’ve been doing it for years. My mom did it for seven years before me. And Judy Ick, who actually does our photography, she did it before that. So it’s been a very long, very longstanding and growing event.”

Kuhn said that the Holistic Expo has grown exponentially over the years.

“When Judy passed it down to mom, there were 38 booths,” she said. “After mom passed it down to me, there were 78. Now I think we’re up to, like, 98.”

The booths are as eclectic as the people who run them. There’s magic, mysticism and moonlight; storytellers and palm readers; conversationalists and creators. There are CBD products, organic teas, energy testing, and even fudge.

“Some of this is kind of a special niche,” Kuhn shared, “but some of it is not. We’ve got a chiropractor. We’ve got people that are working with healing modalities. Some of it’s spiritual stuff. We’ve got crafts, too.”

There’s a wide variety of vendors and customers as the Holistic Expo, and Kuhn said she wouldn’t want it any other way. The most important thing they do, Kuhn said, is donate to local nonprofits.

“People can either pay the $5 door fee — anybody that’s 13 or over — or they can donate five nonperishable goods,” Kuhn said. “We started donating that to poverty resistance, and then we did City Park Church. This year we’re donating to the Wyoming Food for Thought Project.”

Kuhn said this was just a simple way to give back to the community, a community she and her business have been a part of for years. Kuhn owns a store in downtown Casper called A Place for Passion, and the Holistic Expo also allows her to bring some merch from her store and put in on display with a variety of other items. It’s a fun way to spend a weekend, she said, and she’s proud to be a part of it.

“Good lord, I’ve been doing this for a long time,” she said. “I helped my mom with it for ages and she wanted somebody that would carry on and keep expanding and doing well with it. Before I was helping run the show and managing it, I was a booth. I started sharing a booth with my mom because I only had a few things and I wasn’t sure how well they’d sell. But then it just expanded and took off, and now here I am.”

Kuhn said it means a lot that she’s able to continue the Holistic Expo for her mother.

“It’s nice to keep expanding something, especially something that contributes so much to the community,” she said. “There are so many people that come out and enjoy everything that they get here. And it’s a big opportunity for them to connect with others, to connect with people that have stuff they want to offer them.”

That, Kuhn said, is her favorite part of the Holistic Expo — meeting people.

“It’s just nice connecting with people and helping them out in any way that you can,” she said. “Everybody’s got their own knowledge, gifts, products that they’re putting out — services, whatever it is. So being able to share that with others is awesome. You’ve got to come check it out. It’s an awesome experience. There’s a little something for everyone.”

The Casper Holistic Expo is happening Saturday until 6 p.m. and on Sunday from 10 a.m. to 5 p.m. at the Industrial Building at the Central Wyoming Fairgrounds.

Photos from the Holistic Expo can be seen below:

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Wyoming

Wyoming teen discovers rare and ancient megalodon shark tooth off Florida coast

Published

1 day ago

March 28, 2026

Press Room

Wyoming teen discovers rare and ancient megalodon shark tooth off Florida coast

A 6-inch megalodon shark tooth was found by a Wyoming teen during a dive trip off Manasota Key, Florida earlier this week.

Sixteen-year-old Aiden Andrews and his father Brian were on a guided dive with Fossil Junkies, a local fossil-hunting tour company.

Captain John Kreatsoulas told FOX 13 Tampa Bay reporter Kimberly Kuizon that while finding small megalodon teeth isn’t uncommon, finding one that size is quite rare.

Video captured the moments when Aiden and his father celebrated underwater after making the remarkable discovery.

Popularized by Hollywood monster movies, the Carcharocles megalodon was the largest shark to have ever lived, according to the Smithsonian Institution.

A 6-inch megalodon shark tooth was found by a Wyoming teen during a dive trip off Manasota Key, Florida. Fossil Junkies