- Charles Hoskinson, founder of Cardano, has denied rumors that he sold a billion ADA tokens during the last crypto bull market, asserting that the claims are false and indicative of internet misinformation.
- Despite ADA’s significant decline of 60.61% against Bitcoin in 2024, its long-term performance is positive, showing a 14.02% increase over five years.
Cardano’s founder, Charles Hoskinson, recently addressed rumors suggesting he had sold a billion ADA tokens during the last crypto bull run. The speculation began with a social media post by an X user, Brodie, claiming that Hoskinson cashed out when ADA hit its all-time high of $3.60.
In a firm response, Hoskinson dismissed the claims, stating,
“It didn’t happen. People just lie. It’s how the internet works now.”
This denial came after a lighthearted comment from Cardano supporter Jason Appleton, who joked about whether a helicopter shown on Fox News belonged to Hoskinson, given his significant charitable contributions. Appleton’s comment indirectly pointed to the high costs of Hoskinson’s humanitarian efforts, including his work with World Mobile and relief efforts in North Carolina after hurricane damage.
ADA’s Struggles in 2024
Despite Hoskinson’s rejection of these rumors, ADA, Cardano’s native cryptocurrency, has faced challenges in 2024. The token has experienced a sharp decline, dropping by 60.61% year-to-date against Bitcoin. However, ADA’s long-term outlook remains positive, boasting a 14.02% increase over the past five years.
While Cardano’s price struggles continue, Hoskinson’s commitment to the project and his reputation within the crypto community remain strong. The persistent rumors of large-scale sales haven’t shaken his support or Cardano’s vision, even as the market remains volatile.