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Cardano founder Charles Hoskinson slammed Donald Trump’s TRUMP meme coin and his family’s involvement in crypto, saying it politicized the industry and threatens its credibility in Washington.
Hoskinson told Decrypt 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 minute that Trump Coin got launched, it went from ‘crypto is bipartisan’ to ‘crypto equals Trump equals bad, equals corruption,’” Hoskinson said. “You don’t go do something, and then create a regulatory framework. You create the framework and then do that thing in honor of that framework. So I’m not saying don’t launch Trump coin or World Liberty, just launch it in the new framework.”
He warned that Trump’s involvement disrupted markets and could be weaponized in the 2026 midterm elections, while saying most in the crypto industry are afraid to speak out about the issue for fear of losing access to policymakers.
“We were told, ‘Stay silent about it,” he said. ”Don’t say anything, because you’ll lose access. You can never meet with the president, you can’t be involved in the legislation process or any of these things.”
OFFICIAL TRUMP Meme Coin Imploded After Initial Surge
Trump launched the OFFICIAL TRUMP (TRUMP) meme coin before his inauguration in January. It exploded on launch but then collapsed and is now down more than 82%.
TRUMP price (Source: CoinGecko)
“As a private citizen, he has every right to do these things, but he has to understand that he’s not divorced from the optics of the decisions he makes,” Hoskinson said. “You just created a massive market disruption, and are probably going to get subpoenaed when the Democrats get back in power.”
Trump pledged to make the US the “crypto capital of the world” during his election campaign, and seems bent on delivering that promise since entering the White House, launching a slew of pro-crypto policies.
He signed an executive order to establish the US Strategic Bitcoin Reserve, created a White House digital asset working group tasked with coordinating regulatory agencies to help realize his vision of making the US a crypto hub, and signed the GENIUS Act into law in July, creating regulatory clarity for stablecoins.
Democrats Slam Trump Family’s Crypto Involvement
Trump has already faced criticism from Democratic lawmakers, who have repeatedly voiced concerns of 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 be receiving in return.
Reminder: Trump is pushing for crypto legislation to keep lining his own pocket.
President Bush’s former ethics lawyer says we have never had a president since the Civil War with such a conflict of interest.
We should not pass any crypto legislation without shutting this down. 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, Magic Eden CEO Jack Lu, and BitMart CEO Sheldon Xia.
They were served upscale dishes like filet mignon and molten lava cake, and received $100,000 Trump-branded watches, raising concerns over potential political favoritism and pay-for-access.
Protesters gathered at the Trump National Golf Club to denounce the event, carrying signs that said ”America is not for sale,” and ”stop crypto corruption.”
Despite the risk of a fallout from speaking out against Trump’s crypto involvement, Hoskinson said he does not regret his decision to step forward.
“Even if I could affect policy a little bit, it’s just not worth it from an integrity viewpoint,” he said. “Just call a spade a spade.”
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