- Hoskinson said Trump Coin politicized crypto, fueled scams, and hurt public trust during a critical window for regulation.
- He argued memecoin fallout stalled Senate progress on GENIUS and CLARITY, turning crypto into a partisan wedge issue.
- Hoskinson criticized weak White House coordination and surprise ADA reserve inclusion, warning of rising political risk.
Cardano founder Charles Hoskinson criticized the Trump administration’s crypto approach during recent media interviews in the United States. He said actions taken after the November 2024 election weakened regulatory progress. Hoskinson explained how memecoin launches, policy gaps, and poor coordination stalled bipartisan legislation and reshaped crypto’s political standing.
Memecoin Launches and Policy Fallout
Hoskinson, CEO of Input Output Group, shared his views during an interview with CoinDesk. He focused on the launch of Trump Coin before the 2025 inauguration. Notably, he said the move politicized crypto and institutionalized extractive behavior.
He compared the launch to retail-focused memecoin platforms like Pump.Fun. However, he stressed the difference involved direct government participation. According to Hoskinson, Trump Coin later lost over 80% from its peak. The decline followed a broader memecoin collapse that caused losses for many buyers.
He also said the rollout fueled scams and excessive speculation. As a result, public perception shifted rapidly. Hoskinson argued this shift damaged trust during a critical legislative period.
Bipartisan Window for Crypto Bills Closes
Hoskinson said early 2025 offered a rare bipartisan window for crypto regulation. He pointed to the GENIUS Act and the Digital Asset Market Clarity Act. However, he said memecoin controversies triggered Democratic resistance.
The House passed the CLARITY Act with bipartisan support in 2025. However, Senate progress slowed amid concerns over Trump’s crypto ties. According to Hoskinson, these concerns turned crypto into a wedge issue.
He said the administration failed to consult industry leaders during this period. Consequently, regulatory momentum stalled. He added that the lack of structure prevented consensus-building.
Leadership Gaps and Industry Friction
Hoskinson criticized the administration’s internal coordination. He described White House outreach as inconsistent and unclear. He cited invitations extended and later withdrawn without explanation.
He also addressed ADA’s inclusion in a proposed crypto reserve. Hoskinson said neither he nor his team received prior notice. He expressed concern about political risk from that decision.
Additionally, he criticized crypto adviser David Sacks. Hoskinson called him unqualified and urged resignation if the CLARITY Act fails. Meanwhile, CoinFund President Chris Perkins offered a contrasting view, citing stronger regulator engagement.
Perkins noted post-Chevron legal complexity slowed legislation. He also cited recent Senate efforts, including the Blockchain Regulatory Certainty Act. The White House did not respond to comment requests.