As the US presidential elections loom closer, various sectors like cryptocurrency find themselves thrust into the spotlight, pondering the potential implications for their trajectories. Charles Hoskinson, the creator of Cardano, has weighed in on the electoral landscape, offering perspectives on how the outcomes might impact the crypto sphere. He delves into what victory for each candidate could signify for the industry’s future.
President Joe Biden, seeking reelection after triumphing in the 2020 presidential race, finds himself encountering less enthusiasm this time around compared to his initial victory.
Charles Hoskinson, the founder of Cardano, highlights the negative impact the Biden administration has had on the crypto industry. During a broadcast on X (formerly Twitter) last Thursday, he expressed his dissatisfaction with the administration’s approach, alleging that the president consistently seeks to undermine the industry.
In light of this, the founder of Cardano strongly opposes President Joe Biden’s potential reelection. Hoskinson asserts, “Supporting Biden means opposing the American cryptocurrency sector.”
Cardano Founder’s Surprising Remarks
These remarks follow a statement from the White House indicating the current president’s intention to reject a proposed bill empowering the United States Securities and Exchange Commission (SEC) to prohibit banks from engaging in cryptocurrency transactions. However, it appears this action may have arrived too tardily for those involved in the crypto community.
Although the Cardano founder refrains from explicitly endorsing Former President Donald Trump, Biden’s strongest competitor, he acknowledges that the crypto landscape fared better during Trump’s tenure. ‘The [Trump] administration had its flaws but largely overlooked our sector,’ stated Hoskinson. ‘In contrast, the Biden administration has actively pursued strategies to stifle crypto.’
However, President Joe Biden has been avoiding taking a clear stance on supporting cryptocurrency, while former President Donald Trump has been openly endorsing it. Trump recently voiced his backing for the crypto industry, urging all enthusiasts to support him, stating, ‘If you’re pro-crypto, then you should vote for Trump.
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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.
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