Cardano founder Charles Hoskinson has revealed that he was completely unaware of US President Donald Trump’s decision to include ADA, Cardano’s native token, in a proposed crypto reserve. According to Hoskinson, he only learned about it on the day of the announcement.
“We knew nothing about ADA being selected for the reserve. It was news to me,” Hoskinson stated in a video on 5 March 2025. He recalled waking up on 2 March to a flood of congratulatory messages, only to be left confused. “I had no idea what the heck was going on,” he admitted.
Hoskinson further explained that neither he nor his team had any prior discussions with officials about Cardano’s inclusion. “Nobody even talked to us about it,” he said, adding that previous efforts to engage with policymakers were often met with vague responses.
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Trump’s Surprise Crypto Reserve Announcement
Trump unveiled his crypto reserve proposal on March 2, stating that it would “obviously” contain Bitcoin (BTC) and Ether (ETH) but also sparked debate by including XRP, Solana (SOL), and Cardano (ADA).
Following the announcement, ADA surged 76% within hours, jumping from $0.647 to $1.14, before plummeting 30% the next day. The sudden spike and crash triggered skepticism from industry leaders, with some questioning the rationale behind including multiple assets in the reserve.
Hoskinson also addressed the upcoming White House crypto roundtable scheduled for March 7, expressing doubts about Cardano’s involvement.
“I’m going to operate under the assumption that I have not been invited to this gathering,” he said, adding, “I don’t imagine much policy work will be done.”
Japan https://t.co/peiPttXCpE
— Charles Hoskinson (@IOHK_Charles) March 6, 2025
He criticized the idea that such summits alone could lead to meaningful regulatory progress. Furthermore, he insisted that proper policymaking requires collaboration across different sectors.
“While these events put a spotlight on the topic, real work requires many people from across the spectrum to work together,” he explained.
Hoskinson also took a jab at those who view political endorsements as a sign of market success, calling it a “popularity contest” that does little to advance the industry.
“If you believe for a moment that your cryptocurrency is going to do well because somebody went to a ‘vanity fair,’ you’re a fool,” he remarked.
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Lawmakers Push Crypto Discussions Forward
Meanwhile, Fox Business correspondent Eleanor Terrett reported that Senator Tom Emmer and Representative Bryan Steil hosted a “Crypto Power Lunch” on 5 March 2025 to discuss digital asset policy initiatives and legislation.
The event featured representatives from major crypto trade organizations, including the Digital Chamber and Blockchain Association, as well as corporate executives from Paradigm, Andreessen Horowitz, Coinbase, Consensys, and Anchorage Digital.
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Key Takeaways
- Charles Hoskinson had no prior knowledge of ADA’s inclusion in Trump’s proposed crypto reserve.
- ADA’s price surged 76% following the announcement but quickly dropped 30%, raising skepticism.
- Hoskinson criticized political crypto endorsements and questioned the impact of the upcoming White House roundtable.
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