Cardano’s Hoskinson Warns Trump-Backed Crypto Venture

Concerns were made by the founder of Cardano about the crypto platform backed by Trump, saying it could cause problems with regulations and make the industry more political

World Liberty Financial is a new decentralized financial platform backed by former U.S. President Donald Trump and his sons. Charles Hoskinson, the founder of the Cardano blockchain, is worried about it.

In an interview with the Financial Times, Hoskinson said that “everything Trump does the left hates with such a passion,” which means that Trump’s move into crypto could make it harder to regulate the industry. He also warned that this partisanship could lead to reviews by U.S. regulators, making the crypto market less stable.

Trump has recently promised to make the U.S. a “Bitcoin superpower,” even though he used to call Bitcoin a “scam.” However, Hoskinson is still not sure that either Trump or Kamala Harris can make the world a better place for cryptocurrencies because he doesn’t think either candidate knows enough about the problems involved.

Charles Hoskinson said :

“I do not see that level of quality and sophistication in the discourse [with Trump or Kamala Harris in the crypto space].”

World Liberty Financial confirmed that it will release a governance token called WLFI. This token will only be available to qualified investors because of a Regulation D exemption. This is what Hoskinson said next. The project hired Top-tier security companies to protect the platform because regulatory uncertainty remains problematic.

Still, Hoskinson thinks that Trump might be unable to keep his pro-crypto policy promises if he wins the election in November. This makes him question the administration’s ability to support the industry.