Cardano Founder Hoskinson Demands Crypto Bill or Crypto Czar's Resignation

Source: CryptoNewsNet Original Title: Cardano founder Hoskinson draws a line: Pass the crypto bill—or czar should go Original Link: Cardano founder Charles Hoskinson criticized the Trump administration’s approach to cryptocurrency, taking direct aim at White House cryptocurrency czar David Sacks.

Key Points

• Hoskinson warned that failure to pass a long-awaited crypto market structure bill this quarter would mark a clear failure of White House crypto czar David Sacks.
• Hoskinson labeled the Official Trump memecoin “catastrophic.”
• Once a Trump booster, Hoskinson has grown increasingly skeptical of the administration’s crypto policies.

The Ultimatum

Speaking on The Wolf of All Streets Podcast, Hoskinson questioned whether the long-awaited cryptocurrency market structure bill—dubbed the US Digital Asset Market Clarity Act—would pass in the first quarter.

Hoskinson stated:

“If it doesn’t pass this quarter, I think David Sacks should resign. He’s utterly failed us as an industry. If you’re the czar and you’re in charge of this whole thing, I’ve got to judge you by your track record.”

Memecoin Controversy

Hoskinson also criticized the launch of the Official Trump (TRUMP) memecoin, faulting Sacks for failing to curb Trump-linked ventures that have complicated efforts to pass crypto legislation.

He called the TRUMP memecoin “catastrophic” for the industry and warned that Democrats could seize on the episode to campaign against crypto.

“And the problem is Trump’s name’s on it. So it’s really hard to run away from it and say he had nothing to do with it,” Hoskinson said.

Sacks, a prominent venture capitalist, was appointed White House AI and Crypto Czar by Trump in December 2024.

Shifting Sentiment

Once a vocal Trump supporter ahead of the 2024 election, Hoskinson has since grown more skeptical. Trump previously cited ADA, Cardano’s native token, as a potential component of a U.S. cryptocurrency reserve.

However, most cryptocurrencies have plummeted since Trump took office for his second term. Cardano, for example, is down nearly 60% over the past year.

Hoskinson claims he lost over $2.5 billion over the course of four years, blaming government involvement for turning the market from bullish to bearish.

The Crypto Industry’s Disillusionment

Crypto’s honeymoon with Trump 2.0 appears to be over. While there were pro-crypto executive orders and some regulatory rollbacks, the good vibes were drowned out by chaos.

Trump’s trade war instincts triggered software tariffs that helped vaporize nearly $1 trillion in crypto value, while Bitcoin took a five-figure nosedive and traders got liquidated.

Trump-branded crypto ventures (projects like World Liberty Financial and the $TRUMP memecoin) have lawmakers crying foul, effectively freezing bipartisan stablecoin legislation.

Trump’s much-hyped Strategic Bitcoin Reserve landed with a thud after it emerged the government would fund it with seized assets—not fresh purchases.

While the administration boasts crypto-friendly names like SEC Chair Paul Atkins, insiders describe the first year of Trump’s second term as a volatile, politically messy, and increasingly unpopular period for the industry that once cheered it on.