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HomeCrypto NewsMarketCardano Founder On Recent FTX Events Its 'Good To Be Turtle'

Cardano Founder On Recent FTX Events Its ‘Good To Be Turtle’

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Hoskinson embraces the Cardano turtle tag in light of recent crypto blow-ups.

Cardano founder Charles Hoskinson ominously tweeted, “Good to be the turtle,” today in what many perceive as a response to the recent crypto happenings.

It comes as we witness the possible collapse of FTX, one of the world’s largest and fastest-growing crypto exchanges, which launched only in 2019. Ultimately, it appears that despite huge profits from trading fees, the exchange sought to leverage customer holdings to make more profit while propping up its balance sheet with an illiquid token it mints.

Notably, competitors have often criticized Cardano for being too slow and careful. Most notably, one of the co-founders of Solana, a project that received immense support and investment from FTX, criticized the network’s programming language for being too strict on correctness. 

While the price growth and adoption of Solana have happened rapidly, it has also been one of the most unreliable and vulnerable networks in recent years, with frequent outages and hacks. On the other hand, as a user highlighted in a tweet today, Cardano has remained free from hacks and continued to grow. At the same time, projects and platforms that tried to move too fast, like LUNA, Celsius, Voyager, and now FTX, have collapsed, touting Cardano as the standard.

Notably, these sentiments received a nod from Hoskinson.

While Cardano is perceived as slow compared to other networks that appear to burn bright, as users highlight in response to Hoskinson’s turtle reference, its enduring lifespan should allow it to surpass these types of competition in the end. Notably, in recent times, Hoskinson has wasted no time highlighting the woes of detractors. For example, the Cardano chief in July doubled down on his comparison of the Solana network to a broken Nintendo console.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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