Charles Hoskinson Accuses Institutions of Pump-and-Dump Schemes in Crypto Market Slump

Charles Hoskinson, founder of Cardano (ADA), has publicly blamed large institutions for the recent cryptocurrency market crash, alleging systematic manipulation through pump-and-dump strategies. During a November 24, 2025 livestream, Hoskinson claimed that firms like Citadel artificially inflated prices of digital asset treasuries (DATs) and then profited by shorting the market during its decline, extracting tens of billions of dollars and leaving retail investors to bear the losses.

Hoskinson pointed to specific price drops as evidence: Cardano fell from $0.6092 at the start of November to a low of $0.3911, while Bitcoin plummeted from $126,000 to $80,600 within a month. He attributed this vulnerability to institutional dominance and excessive leverage, reflecting on the 2021 bull run as a period of irrational exuberance that led to high-profile collapses like FTX and LUNA, severely damaging investor confidence.

Despite the turmoil, both Cardano and Bitcoin have shown signs of recovery. As of the report, ADA climbed to $0.4206, and BTC rebounded to $87,755, up 8.79%. Hoskinson expressed optimism about future market stability, citing the upcoming U.S. Clarity Act legislation, which he believes will provide regulatory clarity and could push Bitcoin to $250,000 by the end of 2026.