Cardano (ADA) founder Charles Hoskinson stated that President Donald Trump's launch of a personal meme coin shifted cryptocurrency from a bipartisan issue to one associated with Trump, corruption, and partisanship, derailing momentum for regulatory legislation.
What Happened
In a recent discussion, Hoskinson criticized the timing of Trump's meme coin, known as Official Trump (TRUMP) and launched in January 2025 shortly before his inauguration, as well as the earlier World Liberty Financial project involving Trump family members.
"The minute that Trump got launched, went from crypto is bipartisan to crypto equals Trump equals bad equals corruption. And it became a campaign line for 2026 in the midterm election," he said.
"So it's really that hard for a dead up back across the island vote on the bill, because in many ways, it appears politically like they're endorsing the Trump administration and World Liberty Finance and Trump coin," he added.
Hoskinson argued that the Clarity Act, a market structure bill for digital assets, had strong bipartisan support in late 2024, with expectations of passage by around 70 senators and a supermajority in the House.
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Why It Matters
He said the meme coin launch made supporting the bill appear as an endorsement of Trump's ventures, stalling progress.
He acknowledged Trump's right as a private citizen to launch such projects but emphasized the need for regulatory frameworks first. "You create the framework and then you do that thing in honor of that framework."
Hoskinson also noted that many crypto industry leaders, including Ripple's (XRP) Brad Garlinghouse and Coinbase's Brian Armstrong, have remained silent on the issue, reportedly due to fears of losing access to the president or legislative processes.
He claimed the launches disrupted market cycles, preventing a broader rally and keeping gains concentrated in Bitcoin while altcoins lagged.
Despite potential repercussions, Hoskinson said he prioritized integrity over influence.
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