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- Cardano founder Charles Hoskinson says he has lost over $3 billion after the markets turned red but says he doesn’t do it for the money.
- He stated earlier this week that he’s selling his luxury belongings, including a private jet and a lamborghini, to go ‘all in’ on rebuilding Cardano.
Charles Hoskinson has lost over $3 billion in the crypto market collapse, but he’s as committed as ever to building Cardano and fighting against the takeover of the entire crypto market by traditional finance.
In a recent update from Tokyo, where the Midnight Network team has been connecting with developers and users, Hoskinson talked about the Japan trip, Cardano’s continued development and upgrades and the current bearish conditions, where the sector has lost $600 billion since the start of the month.
He stated:
It’s easy for you to say, Charles, you’re rich. You can ride it out. I’ve lost more money than anyone listening to this, over $3 billion now.
Hoskinson added that it would have been ‘real easy’ to cash out and walk away. However, he insists that he is not in it for the money and he is led by a vision of a decentralized future in which the Cardano network underpins global commerce.
His singular focus on what’s best for the people has not made him a popular figure in the crypto ecosystem. This is why he doesn’t appear in the Epstein files, he’s not invited to White House meetings for the crypto leaders and hasn’t been mentioned in any crypto scandal, including FTX. He added:
I don’t care if it means I get put in the little kids’ table and don’t get to go to the White House. Why would I want to go? What are these people offering?
While he claims to have lost over $3 billion, Hoskinson recently announced that he was going to sell most of his luxury items and reinvest the money in the Cardano ecosystem. This includes a private jet, a helicopter and a Lamborghini, as we reported.
Cardano Founder: We’re Moving Toward a Single Global Market
Hoskinson also discussed the current downturn in the crypto and stock markets. He stated that nothing is currently stable, including the US president, and he blames it on a change in the global order. He noted:
Globalism has finally reached its peak, accelerated by AI and demographic changes, and the human race is starting to think as “we” instead of nation by nation.
The old guard that has been benefitting from the previous order is fighting to keep its power, and this is leading to an unstable economy. However, Hoskinson believes the new world order is here, and “the only way to run a world like this is through a cryptocurrency.”
Despite the ongoing market dip, he says that crypto will emerge victorious and surge past previous highs.
There’s an inevitability of victory. We just have to earn it.
ADA trades at $0.2613, down 4.9% in the past 24 hours and 19% over the past week for a $9.42 billion market cap.
