Cardano's Hoskinson Says SEC Not Coming After ADA
Cardano founder Charles Hoskinson clarifies that there has been "no enforcement event" targeting Cardano's ADA token amid growing concerns over increased SEC scrutiny.
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Posted 8/23/2023, 10:22:04 AM
u.today
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Cardano Founder, Charles Hoskinson, suggests that the SEC's crackdown on the crypto industry is politically motivated and driven by the Democratic Party's efforts to save face after the fall of FTX founder Sam Bankman-Fried, but he believes that the SEC is not specifically targeting Cardano.
Charles Hoskinson, CEO of IOG and Co-Founder of Cardano, predicts that Cardano will become the biggest cryptocurrency in the world and the backbone of a new digital nation, citing its focus on sustainability, scalability, and interoperability, as well as developments like the Alonzo upgrade and projects in Africa. He also raises concerns about the U.S. potentially losing talent in the field of decentralized technologies.
Cardano faces regulatory risk and stagnant user and transaction activity, hindering its progress towards reaching $1 and becoming a major player in the cryptocurrency market.