Cardano founder Charles Hoskinson denounced Donald Trump’s TRUMP meme coin and his family’s involvement in crypto, saying it politicized the industry and threatened its credibility in Washington.
Hoskinson said Declutter that Trump and his family’s crypto ventures, including the OFFICIAL TRUMP (TRUMP) token and World Liberty Financial, have blurred the line between personal interest and policy.
“The moment Trump Coin launched, it went from ‘crypto equals bipartisan’ to ‘crypto equals Trump equals bad, equals corruption,’” Hoskinson said. “You don’t do something and then create a regulatory framework. You create the framework and then do it in honor of that framework. So I’m not saying don’t launch a Trump coin or World Liberty, just launch it in the new framework.”
He warned that Trump’s involvement was disrupting markets and could be weaponized in the 2026 midterm elections, while saying most in the crypto industry are afraid to speak out on the issue for fear of losing access to policymakers.
“We were told, ‘Keep quiet about it,'” he said. “Don’t say anything or you’ll lose access. You can never meet the president, you can’t be involved in the legislative process or anything like that.”
OFFICIAL TRUMP Meme Coin imploded after the first wave
Trump launched the OFFICIAL TRUMP (TRUMP) meme coin before his inauguration in January. It exploded at launch but then collapsed and is now down more than 82%.
TRUMP Prize (Source: Coin gecko)
“As a private citizen he has every right to do these things, but he needs to understand that he is not divorced from the optics of the decisions he makes,” Hoskinson said. “You just caused a massive market disruption and you will likely be sued if the Democrats return to power.”
Trump promised during his election campaign to make the US the “crypto capital of the world,” and seems determined to make good on that promise since entering the White House and launching a slew of pro-crypto policies.
He signed an executive order to create the US Strategic Bitcoin Reserve, established a White House Digital Assets Working Group charged with coordinating regulators to help realize his vision of making the US a crypto hub, and signed the GENIUS Act into law in July, bringing regulatory clarity for stablecoins.
Democrats Reject the Trump Family’s Crypto Involvement
Trump has already faced criticism from Democratic lawmakers, who have repeatedly raised concerns about a potential conflict of interest.
When Trump hosted a lavish gala dinner for top holders of the TRUMP meme coin, Senator Elizabeth Warren called the event an “orgy of corruption,” warning that the public has no idea who is buying influence with the president or what they might receive in return.
Reminder: Trump insists that crypto legislation continues to line his own pockets.
President Bush’s former ethics lawyer says we have never had a president with such a conflict of interest since the Civil War.
We should not pass any crypto legislation without stopping it. pic.twitter.com/GIIv9UapZc
— Elizabeth Warren (@SenWarren) July 10, 2025
Guests at the event included TRON founder Justin Sun, the largest known holder of the TRUMP token at the time, Jack Lu, CEO of Magic Eden, and Sheldon Xia, CEO of BitMart.
They were served luxurious dishes such as filet mignon and molten lava cake and received Trump-branded watches worth $100,000, raising concerns about possible political favoritism and fee-for-entry.
Protesters gathered at Trump National Golf Club to denounce the event, holding signs reading “America is not for sale” and “stop crypto corruption.”
Despite the risk of repercussions for speaking out against Trump’s crypto involvement, Hoskinson said he does not regret his decision to come forward.
“Even if I could influence policy a little bit, it’s just not worth it from an integrity perspective,” he said. “Call it a kick.”
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