Cardano

Donald Trump

Liberty

President Donald Trump

Cardano founder raised concerns about the Trump-backed crypto platform, warning it could bring regulatory challenges and politicize the industry.
<a href="https://crypto.news/tag/charles-hoskinson/" target="_blank" rel="noopener noreferrer nofollow">Charles Hoskinson</a>, founder of the Cardano (<a href="https://crypto.news/price/cardano/" target="_blank" rel="noopener noreferrer nofollow">ADA</a>) blockchain, has expressed concerns over World Liberty Financial, a new decentralized finance platform backed by former U.S. President <a href="https://crypto.news/tag/donald-trump/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump</a> and his sons.
In an <a href="https://www.ft.com/content/7a497898-38b7-4e84-9e8a-c2469ebafdc1" target="_blank" rel="noopener noreferrer nofollow">interview</a> with the Financial Times, Hoskinson warned that Trump’s push into crypto could complicate the regulatory landscape for the industry, saying that “everything Trump does the left hates with such a passion.” He also cautioned that this partisanship could provoke investigations from U.S. regulatory bodies, potentially destabilizing the broader crypto market.
Despite Trump’s previous <a href="https://crypto.news/trump-bitcoin-2024-keynote-bitcoin-reserve/" target="_blank" rel="noopener noreferrer nofollow">dismissal</a> of Bitcoin as a “scam,” he has recently pledged to transform the U.S. into a “Bitcoin superpower.” However, Hoskinson remains skeptical of both Trump and <a href="https://crypto.news/tag/kamala-harris/" target="_blank" rel="noopener noreferrer nofollow">Kamala Harris</a>‘s ability to foster a supportive environment for cryptocurrency as he believes that neither candidate demonstrates the necessary sophistication in understanding crypto issues.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “I do not see that level of quality and sophistication in the discourse [with Trump or Kamala Harris in the crypto space].”
 Charles Hoskinson
</blockquote>
Hoskinson’s comments follow World Liberty Financial’s <a href="https://crypto.news/donald-trumps-wlfi-token-to-be-limited-to-accredited-investors/" target="_blank" rel="noopener noreferrer nofollow">confirmation</a> that it plans to launch a governance token, WLFI, which will be available only to accredited investors under a Regulation D exemption. The project has enlisted top-tier security firms to audit and secure the platform as regulatory uncertainty remains a challenge.
Nonetheless, Hoskinson still believes Trump may struggle to fulfill his pro-crypto policy promises if he wins the November election, casting doubt on the administration’s capacity to nurture the industry.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/donald-trumps-world-libertyfi-full-red-flags-experts/"> Donald Trump bets on World Liberty Financial, experts say it’s a red flag </a>

Cardano’s Hoskinson warns Trump-backed crypto venture could harm industry

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