- Charles Hoskinson airs his frustrations against President Biden’s administration.
- The Cardano Founder makes eye-opening allegations and statements.
- Hoskinson warns that crypto will be the kingmaker for the upcoming elections.
The US crypto industry has barely had time to catch its breath in its intense multi-year battle with the current administration. The relentless push for onerous regulations and regulatory crackdown on digital assets has driven countless companies to seek friendlier shores, costing the US economy trillions in potential revenue.
As the industry continues its exponential growth and increasing influence, Cardano Founder Charles Hoskinson claims President Biden’s staunch anti-crypto stance might cost him another term in the White House.
Hoskinson Notes There’s a Systematic Effort to Hurt the Industry
Charles Hoskinson does not mince words when it comes to his dissatisfaction with President Biden’s administration and its anti-crypto stance. In his latest social media post, the Cardano founder aired his frustrations, vividly depicting the industry’s tireless efforts to engage with key decision-makers.
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He noted that the crypto community has spared no effort in fostering understanding, highlighting numerous policy meetings, private dinners, and open letters as part of their efforts. However, despite these endeavors, regulators remain persistent in their campaign against the industry.
The crypto pundit pointed to high-profile cases, such as Robinhood, Coinbase, Binance, and Uniswap, all receiving Wells notices from the SEC, as evidence of regulators’ systematic effort to hurt the crypto industry.
While expressing his frustrations, the Cardano founder singled out Senator Elizabeth Warren as the driving force behind the current administration’s anti-crypto stance.
Hoskinson Singles Out Sen. Elizabeth Warren
The Cardano founder raised eyebrows by suggesting a clandestine pact between President Biden and Senator Elizabeth Warren. He insinuated that Biden brokered a deal with Warren to drop out of the presidential race in exchange for control over domestic treasury policy.
Hoskinson added that Warren, known for her staunch anti-crypto stance, extended her influence into the treasury department, handpicking people who shared her distaste for the crypto industry. This led to an administration that heavily leaned anti-crypto.
The crypto pundit lamented the prevailing anti-crypto narrative, and actions painted crypto as fundamentally harmful to the American people. This perception, he argued, effectively labeled a vast portion of the population as criminals.
“53 million Americans, regardless of their politics and preferences, are soft criminals,” Hoskinson claimed.
The Cardano founder conveyed deep concern over the repercussions of this hostile environment, citing that many of his friends, including Binance’s former CEO, Changpeng ‘CZ’ Zhao, are in jail.
He expressed a sense of defeat, suggesting little hope for the industry.
Hoskinson Claims Crypto Will Be Kingmaker
The Cardano founder noted the dichotomy of the Biden administration’s inviting crypto companies to register and engage in dialogue without providing a solid and transparent regulatory framework for them to do so effectively. He underscored the urgent need for clarity and consistency in regulation to ensure the industry’s legitimacy and growth.
Amidst his frustration, Hoskinson offered an eye-opening insight: the potential political ramifications of the administration’s anti-crypto stance.
“If this President loses his job and crypto is the decider, no Democrat running in 2028 will be anti-crypto,” Hoskinson asserted.
The Cardano founder further noted that the current administration is campaigning against the crypto industry because it believes its actions have no political consequences. Hoskinson emphasized that it is up to the voters to create that political consequence by voting President Biden out.
Hoskinson ended his video by emphasizing the pivotal role of voters in shaping the political landscape, highlighting the importance of electing officials who embrace crypto. He envisioned a future where the next generation of congress members, senators, and presidents are crypto natives, paving the way for a more inclusive and progressive regulatory environment.
On the Flipside
- In response to Biden’s anti-crypto stance, former President Donald Trump promised support for the besieged US crypto industry.
- At press time, only 17% of Americans have invested in digital assets.
- Charles Hoskinson believes the current administration has a hidden agenda of integrating CBDCs called Chokepoint 2.0.
Why This Matters
The crypto industry will certainly play a deciding factor in the upcoming elections. As the industry faces numerous punitive measures and crackdowns, frustrations against the current administration have reached an all-time high. Charles Hoskinson’s prediction carries significant weight in this context.
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