Cardano founder Charles Hoskinson has launched a sharp critique of the Trump administration's cryptocurrency policy, arguing it has left the U.S. industry in a weaker position than under President Biden. In an interview with CoinDesk, Hoskinson claimed that the launch of Trump-branded memecoins in February 2025 fundamentally derailed bipartisan legislative progress.
The core of Hoskinson's criticism centers on the "Trump Coin" and "Melania Coin" launches. He described these as an "extractive venture" that "institutionalized" behavior akin to retail memecoin platforms. This move, he argued, shifted the regulatory debate from technical substance to partisan politics, eroding public trust and collapsing the perception of crypto to "crypto equals Trump equals bad" among political opponents.
This politicization, according to Hoskinson, directly led to the indefinite postponement of two key bills: the GENIUS Act, aimed at creating a federal framework for stablecoin regulation, and the CLARITY Act, which sought to clarify digital asset classification. Both had previously garnered bipartisan support and were on a legislative timeline. Hoskinson asserted that "if memecoins hadn’t been launched, both the GENIUS Act and the CLARITY Act would have already been passed."
Hoskinson also detailed a lack of structured engagement from the administration, calling it a "predatory free-for-all" driven by donations rather than policy. He revealed that neither he nor his team were consulted when Cardano's ADA token was named as part of a proposed U.S. crypto reserve, a move he feared would lead to legal scrutiny. Furthermore, he criticized the appointment of David Sacks as "crypto czar," labeling him unqualified and stating the administration failed to unite the industry.
As a consequence, Hoskinson warned that the window for clear federal regulation may now be closed until at least 2029, leaving the industry politicized and without a clear strategic path forward. While other industry voices, like CoinFund's Chris Perkins, suggested the regulatory delay might not be entirely harmful post-Chevron, Hoskinson maintains the administration's actions have caused significant, lasting damage to the sector's growth and investment environment in the United States.
