As per The Crypto Basic, Cardano founder Charles Hoskinson has blamed large institutions for the recent crypto market crash, accusing them of a 'pump and dump' scheme involving digital asset treasuries. He claimed that firms like Citadel drove prices up before shorting the market, profiting from both sides of the trade. This, he argued, led to a collapse in prices, with Bitcoin dropping from $126,000 to $80,600 and Cardano falling to a multi-month low of $0.3911. Hoskinson also criticized retail investors for failing to learn from the 2021 bull run and warned of the risks of leverage and speculative behavior. He anticipates a market rebound, citing the potential impact of the U.S. Clarity Act on investor confidence.
Cardano Founder Blames Institutions for Crypto Market Crash
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