Cardano Founder Challenges VP Harris to Address ‘Brutal Abuse’ of Cryptocurrencies Before 2024 Vote
The founder of Cardano is calling for specific policy proposals and clarification from Vice President Harris on the administration’s approach to the regulation of digital assets.
In a series of scathing social media posts, Charles Hoskinson, the founder of the blockchain Cardano (ADA), has slammed the Democratic Party’s stance on the cryptocurrency industry, specifically the actions and perceived intentions of Vice President Kamala Harris.
Hoskinson’s criticism stems from a perceived lack of clear and tangible support for the cryptocurrency ecosystem from the current administration, which he says has conducted a “brutal” crackdown on the industry.
Cardano Founder Skeptical of Harris’ Cryptocurrency Promises
In one of his posts, Hoskinson responded to comments by Brian Nelson, policy advisor to Vice President Harris, who stated that the Vice President will support policies that ensure the use of emerging technologies. Hoskinson’s response, however, was skeptical and demanded to know the details of these policies:
“There is no concrete policy or proposal. Just words. will gary be fired? what legislation will he support? what executive actions will be issued? why hasn’t the policy changed RIGHT NOW since he has been president? I’m sorry, there is ZERO trust. We need concrete, tangible action.”
The Cardano founder further criticized the administration’s past actions, stating that after 3 years of “brutal abuse” of the industry, the lack of clarity is driving the industry’s thirst for viable strategies rather than mere rhetoric. Hoskinson went on to say:
“So, after 3+ years of brutally abusing the industry, promoting the lack of clarity, preventing legislation from being passed, and declaring everyone from protocols to exchanges to be criminals, somehow Harris is going to magically wake up and become pro-cryptocurrency? It’s not even necessary to fire Gary… Force Harris to state specific policies BEFORE the election. Make him explain why the Biden administration did what they did to us. Who gets fired? We are owed an explanation.”
Trump’s Pro- Cryptocurrency Stance Clashes with Harris’s Ambiguity
Hoskinson’s criticism is at odds with the Republican Party’s more vocal support for the cryptocurrency industry. Former President Donald Trump, who has pledged to become the first “cryptocurrency president,” expressed support for using bitcoin to pay off the country’s debt and even called for the firing of the SEC chairman on the first day of his administration.
This clear support from the GOP stands in stark contrast to the perceived lack of support from the Democratic Party and Vice Chairwoman Harris, which has led to growing concerns within the cryptocurrency community about the future of the industry under a potential Harris presidency. Galaxy Digital’s head of research, Alex Thorn, sounded the alarm, predicting a rocky road ahead for cryptocurrencies if Harris were to assume the presidency.
Thorn’s analysis pointed to Harris’s choice of advisors, including figures known for their anti-cryptocurrency views, as a harbinger of a continued crackdown on the industry.
ADA Forecast
ADA, Cardano’s home token, is trading at $0.3720, up nearly 2% in the last 24 hours. Cardano has experienced an uptrend of nearly 10% in the last week alone.
According to CryptoPredictions, ADA price for today (08/23/2024) is predicted to be ranging between $0.29302377985436 – $0.43091732331523. Cardano price is predicted to end today at $0.34473385865219.
The price of ADA is expected to be in the price range of $0.28423306645873 – $0.41798980361577 tomorrow (08/24/2024). Cardano is expected to start tomorrow at $0.33439184289262 and end the day at $0.3310479244637.
Cardano started August 2024 at $0.38871387576926 and is expected to end the month at $0.31431468400933. During August, ADA’s expected high price is $0.57268197209275 and its expected low price is $0.31431468400933.
By Audy Castaneda