Charles Hoskinson, founder of Cardano, criticized President Donald Trump’s approach to crypto, arguing that Trump’s personal ventures—especially the launch of a Trump-branded meme coin—undermined the industry’s credibility in Washington. Hoskinson said the move turned what had been a fragile bipartisan effort to regulate digital assets into a partisan issue, giving critics an easy narrative ahead of the 2026 midterm elections.

He noted that many crypto leaders remain silent out of fear of losing access to policymakers, but warned that Trump’s involvement blurred the line between public policy and personal interest. Hoskinson also opposed expanding a U.S. crypto reserve beyond Bitcoin, saying it would amount to the government picking winners and losers. Despite losing access to political circles, he said speaking out was necessary for integrity, arguing that clear rules should come before political or personal crypto ventures.