Cardano Founder Criticizes Biden’s Crypto Policies, Urges Voters to Prioritize Crypto

Cardano founder Charles Hoskinson urges U.S. voters to prioritize cryptocurrency in the forthcoming elections, criticizing Biden’s policies.

In a video posted on Cardanians.io and originating from Altcoin Daily, Charles Hoskinson, founder of Cardano, addressed the American public. He urged voters to consider the future of crypto when casting their ballots in the next election. 

Charles Hoskinson advises that US voters must vote wisely if they want a better future. The blockchain debate has spilled over into politics.#Cardano $ADA pic.twitter.com/L17dtazfXZ

— Cardanians (CRDN) (@Cardanians_io) July 1, 2024

Hoskinson emphasized the importance of blockchain technology in shaping America’s economic, political, and social systems. He warned that a vote for President Biden could signal the end of the American cryptocurrency industry.

Hoskinson Criticizes Biden Administration’s Crypto Policies

On the same day, Hoskinson posted on X, criticizing the media’s reaction to President Biden’s performance. He pointed out the lack of a Democratic primary, which he believes could have highlighted Biden’s decline. 

It's remarkably ironic that the media is now freaking out about Biden's performance. I'll remind everyone on the left that you weren't allowed to have a primary, which would have exposed Biden's decline for everyone to see. You weren't given a choice.

It's now either dementia… pic.twitter.com/cWfLLdDNa4

— Charles Hoskinson (@IOHK_Charles) June 30, 2024

Hoskinson questioned why the public tolerates the current situation, emphasizing the need for real choices. He labeled the Biden administration as detrimental to the cryptocurrency sector, citing the President’s pledge to veto a bill aimed at reigning in the SEC’s crypto crackdown.

Industry Reactions to SEC’s Actions

Recall that in May, Hoskinson criticized President Biden’s stance on the SEC’s regulatory actions, per a post by crypto expert Andrew Griffiths at the time. He claimed that the White House aimed to “destroy the American cryptocurrency industry.” 

According to Hoskinson, the SEC’s approach of “regulation by enforcement” has led to significant job losses and the decline of a trillion-dollar industry. 

Per Griffiths, blockchain leaders, including Messari CEO Ryan Selkis and the Winklevoss twins, have also voiced these concerns. Meanwhile, Coinbase and Ripple CEOs have transformed the crypto lobby into a major political force. 

Further, Anthony Scaramucci, a notable supporter from the crypto sector, has offered a lukewarm endorsement of Biden, contrasting with his critique of Trump’s unpredictable leadership style.

In a previous report by The Crypto Basic, a memo circulated among Democrat Committee members ahead of a pivotal hearing on digital asset regulation stirred significant debate. Charles Hoskinson strongly criticized the memo and urged U.S. citizens to consider this issue critically as single-issue voters in the upcoming election cycle.