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Charles Hoskinson used his latest AMA to unleash his most forceful critique yet of the Cardano Foundation (CF), defending the decision to exclude the CF from claiming Midnight’s NIGHT tokens while outlining aggressive multi-chain partnerships, airdrop mechanics he says could be among the largest ever, and a near-term push around Token2049 and an Asia tour.

At the center was the Midnight redemption controversy. Asked “to address the decision to limit the CF from claiming NIGHT tokens,” Hoskinson framed the move as a necessary risk control rooted in the airdrop’s terms. “We built it. It’s my money. We can do whatever the hell we want to do,” he said, adding that the distribution included a disclaimer about “undue burden and harm to the network.”

Hoskinson Torches Cardano Foundation

He asserted ownership of the CF’s ADA is “not clear,” claiming “the Swiss government stole the ADA,” and warned that letting the CF redeem would introduce an adversarial governance bloc: “They’d come in and instantly be adversarial […] and assert that they have some sort of governance control. Let somebody else have that NIGHT who’s going to do something more with it.”

He escalated further later in the stream: “At what point does the community tell the CF to f*** off […] the free [stuff] they already squandered?” and, when pressed on why to blacklist the Foundation’s addresses, replied, “Why invite a bad actor […] into an ecosystem?”

He added to his rant: “I’m out there alone and it’s expensive, guys. Some of these deals with the big guys, they’ve become eight figure deals. […] It’s frustrating because all of our competitors have foundations that in some cases have endowments that are in the billions to tens of billions of dollars and they’re hungry and aggressive, and they’re doing stuff and they’re investing in stuff and they’re really pushing things forward.”

Hoskinson also insisted that the Midnight rollout materially benefits Cardano rather than siphoning attention from it, pointing to custody and exchange integrations set up to list both Midnight and Cardano-native assets. “We just announced today the Copper partnership[…] any exchange that uses Copper as a custodian […] can now support that asset. And […] they didn’t just agree to support Midnight. They agreed to support Cardano and Cardano native tokens,” he said, grouping Copper with relationships involving Bitcoin.com, Blockchain.com and Brave.

Hoskinson also said IOHK is working with Chainlink on a first-ever UTXO deployment: “We sat down with Sergey [Nazarov] […] They’re skeptical about the engineering cost […] [but] ‘I think we can figure it out.’”

The CF critique broadened into a sweeping governance and resourcing indictment. Hoskinson alleged the Foundation “is just not deploying capital in meaningful ways,” noting its absence from recent conferences: “When I was at Salt […] who wasn’t there? The CF. When we were at Rare Evo […] there was no CF booth.”

The Midnight Foundation Is Different

By contrast, he cast the Midnight Foundation as aggressively commercial—110 deals in the pipeline and “hungry” account management across ecosystems—and pointed to Intersect, Cardano’s members-based body, as the organ that now embodies his original foundation vision: “You already got a members-based organization […] It took two years to build it […] Now just add like $600 million […] and give them four extra years.”

He drew a direct line from CF governance to reputational damage: “Members of the organization are low-key soft accusing us of stealing money […] Were there any apologies? Was there any attempt for reconciliation?”

The animus with the CF bled into an evidentiary promise. Hoskinson said the audit report is in the final stages—“we’re so close to the release”—intended to “close out a 10-year history lesson from 2015 to 2025,” including “the original contracts with IO […] how much funds were raised […] the sale […] ADA vouching,” and audits tied to the Cardano Foundation.

Hoskinson framed it as “complete exoneration on our part,” and “very damning” for the CF’s “recusal […] of their responsibilities,” arguing that the Foundation’s decision to distance itself from Cardano’s origin story “created a lot of problems.” The purpose, he said, is “sunlight”: “You push it all out there […] and I think those conclusions will be very positive and favorable to Input Output.”

At press time, ADA traded at $0.8795.

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Cardano (ADA) has achieved a significant milestone with the successful completion of its first-ever on-chain governance vote. For the first time, core development funding has been directly approved by the Cardano community, marking a significant step forward in the blockchain’s transition to fully decentralized governance. Reacting to the milestone, Cardano’s founder, Charles Hoskinson, shared his thoughts on the network’s progress. 

Cardano Enters New Era Of Decentralized Governance

The Cardano ecosystem has reached a pivotal moment in its growth and evolution, marking a historic milestone with the recent execution of its first governance vote. The landmark event signals the beginning of a new phase for the blockchain, where decisions around core development funding are now being made directly by the community rather than centralized entities.

Related Reading

Hoskinson publicly acknowledged the significance of the event in an X social media post on August 3. He praised the community for their support and trust, reinforcing the belief that decentralized governance is not just a vision but now an operational reality within the Cardano ecosystem. 

Hoskinson’s remarks came in response to an earlier post by Input Output Global (IOG), a blockchain research and development company behind Cardano’s development. IOG had commemorated the blockchain’s recent governance achievement by stating that the Cardano community had officially made history. 

The governance vote had approved direct funding for core development initiatives, representing a foundational shift in how the Cardano ecosystem grows and evolves. Rather than relying on a small group of decision-makers, the blockchain now empowers its global community to determine resource allocation collectively. Input Output Global praised both Cardano and its community’s efforts, calling the recent milestone the beginning of a new era of decentralized governance. 

Notably, the broader crypto community is already responding with enthusiasm, with many offering congratulations and support as Cardano celebrates this landmark event. The network’s successful governance vote sets a powerful precedent in the crypto industry, showcasing the potential of a blockchain governed directly by its users. 

Cardano Becomes Only Top 10 With On-Chain Governance 

In addition to its historic governance vote, Cardano has emerged as the only top 10 cryptocurrency by market capitalization to implement on-chain governance, setting a new benchmark for how blockchain ecosystems are managed and governed. 

Related Reading

According to a report by Cardanians (CRDN) on X, the blockchain’s governance framework is actively functioning, with 39 treasury withdrawal proposals currently open for voting. These proposals allow Delegated Representatives (DReps) and the broader community to directly participate in shaping the ecosystem by deciding which initiatives receive funding and move forward.

As of now, none of the other top 10 blockchains, including Bitcoin, Ethereum, XRP, USDT, Binance Coin, Solana, USDC, Tron, and Dogecoin, have matched Cardano’s level of on-chain decision-making power. While these cryptocurrencies continue to lead in various areas, Cardano stands out as the 10th-largest cryptocurrency by market cap with a uniquely advanced governance system.

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Charles Hoskinson, the founder of Cardano, has publicly defended his influence on the blockchain network’s development following growing criticism.

In an Aug. 3 post on X (formerly Twitter), Hoskinson addressed the negative claims suggesting that his leadership was detrimental to Cardano’s progress.

Hoskinson pointed to the success of his other project, Midnight, highlighting its significant expansion with over 100 partnerships across eight ecosystems. He also emphasized the project’s liquidity influx for Cardano Native Assets (CNAs) and its leadership in Bitcoin’s DeFi space.

According to Hoskinson, these efforts have brought billions in Total Value Locked (TVL) and millions of transactions into the Cardano network.

Hoskinson further explained his strategic focus last year on deploying key technologies like Peras, Leios, and Hydra, while referencing major initiatives such as Doom and the Glacier Drop.

Moreover, he noted that his push for rapid development and significant marketing efforts, including appearances on popular shows like Shawn Ryan’s, has expanded Cardano’s reach to new audiences, including 19 million potential users.

In response to criticisms from online trolls and what he called “Charles Drangement Syndrome,” Hoskinson argued that the broader Cardano community remains unaffected and is thriving.

Considering this, Hoskinson emphasized to the critics that:

“You lost. I’m here to stay in Cardano. Deal with it.”

Input output secues $71 million funding

Meanwhile, Input Output Global, a company founded by Hoskinson, has received approval to access 96 million ADA, worth around $71 million, from the Cardano treasury.

On Aug. 2, the firm revealed that its funding proposal passed with 74% of community support.

The firm stated that the fund would support upcoming Cardano upgrades, including improvements to scalability through Hydra and Ouroboros Leios, enhanced security with Mithril, and streamlined user interactions via Nested Transactions and Project Acropolis.

Tim Harrison, EVP Community & Ecosystem, said:

“For the first time, core protocol development is being funded directly by the community. This vote of confidence empowers us to move forward with full transparency, shared responsibility, and a renewed commitment to building an open, resilient ecosystem.”

Meanwhile, Intersect, a Cardano community group, will oversee fund distribution.

Input Output has also committed to providing regular updates, including monthly development reports and quarterly financial summaries, to keep the community informed on the project’s progress.

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In an interview, Input Output CEO Charles Hoskinson declared that Cardano’s long-running efforts to bring DeFi functionality to Bitcoin are no longer theoretical. Speaking with Crypto Megan, Hoskinson laid out the architecture, live integrations, and strategic rationale for what he described as a “multi-trillion dollar opportunity” to merge Bitcoin’s liquidity with Cardano’s programmability.

“This is not the beginning,” Hoskinson said, “but it’s the midpoint of a very long conversation about how does Bitcoin achieve programmability.” What began years ago with experiments like Colored Coins and Mastercoin has now matured, he argued, into real interoperability between Bitcoin and other smart contract systems—driven by breakthroughs like Taproot, BitVMX, and an expanding partner ecosystem.

Cardano Tech Goes Live on Bitcoin Mainnet

One of the most striking announcements came when Hoskinson confirmed that live transactions are already flowing between Bitcoin mainnet and Cardano mainnet. “We had demonstrated transaction between Bitcoin mainnet and Cardano mainnet where an ordinal was able to move back and forth,” he said. “It really proves not only the concept but it proves it at scale.”

Cardano’s role in this emerging stack, according to Hoskinson, is to serve as the computational layer to Bitcoin’s value and security layer. “Bitcoin is a very secure audit layer… Cardano is an amazing computation layer. And when you pull these two pieces together and have a little toggle to go back and forth, we can allow a seamless experience,” he said.

This toggle—a major part of the user experience innovation—is designed to abstract away complexity for end users. “You have a switch, and you push the switch and it says DeFi mode,” Hoskinson explained. “No mention of another network, no mention of other things… All your transactions you pay fees in Bitcoin and all your returns you get back in Bitcoin.”

From a design philosophy standpoint, Hoskinson emphasized the importance of staying true to Bitcoin’s cultural and ideological core. He identified three rules that define legitimate Bitcoin DeFi: it must use Bitcoin for security, Bitcoin for fees, and return yield in Bitcoin. “Unless and until you’re able to present that experience, you’re kind of dead in the water philosophically, culturally, and technologically,” he said. For years, this was an unsolved problem. Now, according to Hoskinson, it isn’t.

The infrastructure stack, he said, is maturing rapidly thanks to contributions from Cardano-aligned partners like Fairgate, Sundial, and the Lace Wallet team. The toggle switch was first showcased during this year’s Bitcoin conference, and is already live in the Lace desktop wallet.

Hoskinson also revealed that Cardano’s development environment is being reused on Bitcoin via BitVMX. “We showcased… is there a path where Cardano programming language can be used to write Bitcoin script?” he asked rhetorically, before answering with live demos that included tools across both chains.

He emphasized that the model builds on Cardano’s foundational similarities with Bitcoin, from its UTXO model to its native assets system. “It just has all the things you always wished Bitcoin had,” he said, “but if you’re a Bitcoin developer, you’ll instantly get how Cardano manages.”

That compatibility extends to Cardano’s Babel fees mechanism, which enables users to pay transaction costs in currencies other than ADA—including Bitcoin. “So just like when a tourist goes to France and they pay with dollars and don’t even realize they’re spending euros… under the hood, there’s ADA being transacted, but the user doesn’t see it.”

Hoskinson also revealed ambitions for a Bitcoin-backed algorithmic stablecoin, building on Cardano’s experience with Jed and his early work with BitShares. “I’d love to do a Bitcoin-backed algorithmic stablecoin. That would be incredible. It’s almost like the Bretton Woods agreement—you have gold-backed money, now you have Bitcoin-backed money.”

On the adoption curve, he believes the combination of user experience improvements, reduced fees, and clear trade-off control is critical. “You don’t pick the security model for the user—you let them decide,” he said, describing a UX layer where Bitcoin maximalists can toggle to a purist configuration, while others may prefer lower fees and faster throughput.

Hoskinson framed the entire initiative as part of a broader shift toward pragmatic cross-chain cooperation in crypto. “Bitcoin and Cardano kind of make each other better,” he said. “This is the changing of the ways in crypto. We’ve kind of buried the hatchet.”

And the scale is massive. “It’s four times larger than the market cap of Solana and Ethereum combined,” Hoskinson claimed. “Bitcoin at this juncture, especially with the bull market coming, has almost unlimited liquidity. So it’s the ecosystem that really needs this.”

While Cardano has long pushed for this integration, Hoskinson made clear that the leap from vision to mainnet deployment changes everything. Cardano’s Bitcoin DeFi roadmap is no longer just theoretical—it’s alive, on-chain, and ready to scale.

At press time, Cardano traded at $0.7598.

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Cardano founder Charles Hoskinson delivered a new message to the community on April 12, declaring that the Cardano ecosystem has reached full decentralization while hinting at a potential step back from active involvement. In a livestream titled “See you on the other side”, Hoskinson reflected on a decade-long journey with Cardano, praised recent governance milestones, and announced plans for a perilous personal expedition.

Cardano Fully Decentralized, Hoskinson Steps Back Briefly

Speaking from his home office in Colorado following a trip to Paris, Hoskinson opened with a candid statement: “This time it’s to go somewhere to do something that is quite dangerous—so much so there is a possibility of death.” He characterized the livestream as a precaution, a chance to reflect on what has been built in the event something were to go wrong. While he reassured viewers that he expected to return safely, the tone of the address underscored a transition, both personal and professional.

The central focus of Hoskinson’s message was the formal maturation of Cardano’s governance infrastructure. After more than a decade of development, he asserted that Cardano has now entered a fully decentralized phase, citing recent constitutional and institutional advancements made possible under the Voltaire governance framework. “We have passed a constitution both through a constitutional convention and an on-chain ratification,” he said. “We have passed an info action approving a roadmap. There are almost a thousand DREs [Delegated Representative Entities] registered and an interesting distribution of power amongst them.”

These milestones mark a significant shift for Cardano, effectively transferring decision-making authority from the founding entities to the broader community. A transitional constitutional committee—partially elected—is currently in place, with fully democratic elections scheduled for later in the year. Budget reconciliation among DRAPs (Delegated Representative Action Plans) is ongoing and expected to conclude within the next 60 to 90 days.

Hoskinson emphasized the significance of this structural shift: “I wanted to build something where I could spend my entire life working on it, but I didn’t want to be a dictator or a king.” He likened Cardano’s trajectory to Bitcoin’s early evolution, referencing Satoshi Nakamoto’s departure from Bitcoin development as a precedent for decentralized growth.

The founder also praised the ecosystem’s increasing technical plurality, highlighting the recent node diversity workshop in Paris. There, he met with teams from Pragma, TXPipe, Blink Labs, and Harmonic—independent development groups contributing alternative node implementations to strengthen the protocol’s resilience. “It was really impressive to spend some time with them and see them,” he said. “The end result of those conversations is basically an assurance that we will have multiple independent implementations by independent teams in the Cardano ecosystem.”

In a notable moment of cross-chain collaboration, Hoskinson mentioned that even members of the Ethereum community were present at the workshop to discuss interoperability and client diversity. This broader dialogue reflects Cardano’s ambition to move beyond its insular beginnings and into a more heterogeneous blockchain environment.

While affirming Input Output Global (IOG)’s continued presence in the ecosystem, Hoskinson made clear that the organization’s prominence would now be subject to the will of the community: “You ultimately get to decide how prominent that role is […] whether it be involved in core infrastructure or simply building on top of the protocol.”

A New Era

Hoskinson also discussed the growing enthusiasm around Midnight, a new privacy-oriented blockchain protocol under the Cardano umbrella, describing it as a potential gateway for “millions of users” into the ecosystem. He portrayed hybrid applications—bridging Bitcoin, Ethereum, Solana, and Cardano to Midnight—as a promising direction for the space.

Amid these technical updates, Hoskinson’s remarks turned reflective and philosophical. At 37, he noted that he now finds himself at a liminal point—not young, not old—and is increasingly seeking fulfillment outside the crypto sphere. “I’ve been chained down for the last decade,” he admitted, referencing his ventures into ranching, synthetic biology, and even fringe endeavors like the “alien salvage expedition in Papua New Guinea.”

This upcoming venture, however, stands out in its severity. Although he declined to specify its nature, he admitted that it’s “one of the most challenging things I’ve ever done in my entire life,” and that it has been in preparation for over a year. “If I survive—which is very likely—I will record it and put it up on Twitter when I return,” he said.

Hoskinson framed the journey as both a personal test and a necessary mental reset before entering the “long brutal march” of the next Cardano era, citing Midnight, Hydra scalability, Minotaur’s AVS (Active Validator Set) ambitions, and the roadmap’s transition to full realization. “Cardano’s roadmap is the best it’s ever been,” he asserted, referencing the system’s emerging functionality as a Bitcoin DeFi platform and its commitment to scalable governance.

Yet behind the achievements lies a sense of fatigue with the broader crypto industry. Hoskinson expressed disenchantment with the market’s narrow focus on price movement at the expense of innovation and impact. “Every accomplishment doesn’t matter ]…] everything is chained to whether the price goes up or the price goes down. You have no idea how thoroughly boring that has become.”

He concluded with a reaffirmation of Cardano’s resilience and a tacit acknowledgment that his role may soon evolve. “Cardano, like Bitcoin before it, is durable. It’s here to stay. All elements of centralization have been removed… that was my life’s work, and I’m proud of that.”

At press time, ADA traded at $0.6452.

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Bitcoin could climb as high as $250,000 by the end of this year or 2026, according to blockchain entrepreneur Charles Hoskinson.

The Cardano founder indicated he believes adoption by major technology companies and clearer regulations will drive the next wave of growth in the cryptocurrency market.

Speaking to CNBC during the “Beyond the Valley” podcast, Hoskinson said investors are likely to adjust to the current macroeconomic environment, including rising geopolitical tensions and shifts in US trade policy. He added that once markets stabilize and the US Federal Reserve lowers interest rates, capital would start flowing back into digital assets.

“The markets will stabilize a little bit, and they’ll get used to the new normal, and then the Fed will lower interest rates, and then you’ll have a lot of fast, cheap money, and then it’ll pour into crypto,” he said.

Hoskinson Remains Bullish Despite Volatility and Sharp Market Swings

Hoskinson made the comments before US President Donald Trump announced a temporary pause on a new round of global tariffs. The move came after days of volatility in equity and crypto markets.

Bitcoin dropped below US$77,000 earlier in the week but rebounded above $82,000 following the pause. Despite the recovery, the assets remains well below its record high above $100,000 in January.

Hoskinson, who also helped launch Ethereum and now leads Input Output, pointed to several reasons for his bullish view. This includes the growing number of cryptocurrency users around the world. Data from Crypto.com shows ownership was up 13% year on year in 2024 to 659m.

Hoskinson Predicts Big Tech Will Turn to Stablecoins for Global Payments

He also argued that global instability is pushing countries away from traditional systems and making decentralised options more attractive. “If Russia wants to invade Ukraine, it invades Ukraine. If China wants to invade Taiwan, it’s going to do that. So treaties don’t really work so well, and global business doesn’t really work so well there. So your only option for globalisation is crypto,” Hoskinson said.

Legislative efforts in the US could also play a key role. Hoskinson expects new bills on stablecoins and digital asset market structure to pass in the coming months. These laws could provide clarity for investors and open the door for mainstream adoption.

Hoskinson believes that the largest technology companies may soon explore stablecoin integration. The so-called Magnificent 7, which includes Apple, Microsoft and Amazon, could use blockchain-based tokens for cross-border payments or microtransactions. He said this would reduce costs and increase efficiency.

While he expects the crypto market to remain quiet for the next few months, Hoskinson sees a turning point later this year. He predicted a new wave of investor interest starting around August or September that could continue into 2026.

The post Charles Hoskinson Predicts Bitcoin Could Hit $250,000 as Tech Giants Eye Stablecoins appeared first on Cryptonews.

Cardano (ADA) founder Charles Hoskinson believes memecoins are like celebrities who witness short-lived fame before flaming out.

In a new interview on the Wolf of all Streets YouTube channel, Hoskinson says memecoins need to evolve and develop use cases and user bases to avoid going through a ‘dumpening’ – the practice of launching tokens with the sole aim of enriching insiders.

“So a memecoin is just like the ascendancy of a celebrity that has 15 minutes of fame. It doesn’t necessarily mean that that celebrity is going to disappear forever, but they’re in a temporary state of popularity. They have to find a way to become sustainable quickly or otherwise the people stop paying attention and they die out. It’s why the 99% of the memecoins will fail, and the ones that succeed, they pivot into ecosystem-building…

They have to. It’s the only way they can survive. So typically, you have to build community, you have to start doing things with that community, you have to have a reason for people to be there and continue investing.

And it’s really hard because, almost always, the distributions of memecoins are built for insider dump. So the person who issues it, and the insiders who issue it, their only incentive is to pump the price to dump the price. So they have to survive the dumpening.”

Hoskinson also warns that memecoins are hurting the crypto industry, as issuers tend to drain capital from market participants instead of helping boost digital asset adoption

“What’s happening is you’re moving water from one side of the bathtub to the other side of the bathtub… [and] the drain is open, it goes into the founder’s pocket. So basically, you’re not adding water to the tub, you’re losing water over time… It’s net-net neutral or negative.”

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Cardano founder Charles Hoskinson has categorically dismissed rumors linking hip-hop artist Kanye West, now known as Ye, to a proposed token launch on the Cardano blockchain. In a brief video posted on X (formerly Twitter), Hoskinson poured cold water on speculation that Ye might roll out a cryptocurrency project under Cardano’s umbrella.

No Kanye West Project on Cardano

“Hey guys, I wanted to make a quick video to say Kanye West is not going to launch something on Cardano,” Hoskinson said. “I know some people are talking about it, but it doesn’t even look like he’s actually doing anything of value. Looks like he sold his Twitter account for 17 million dollars to the Barkmeta guys for them to do a scam. Even if he didn’t, I don’t think we want that. It’s too much drama.”

He added: “Cardano is a serious project. We’re not a launching place for these types of things. So thank you all for the drama for the weekend, but I don’t think there’s any Kanye at all.”

Notably, the controversy began on Friday, when three sources close to Ye’s circle claimed that the artist was planning to release a token named YZY—a nod to his Yeezy fashion brand. According to these sources, 70% of the token’s allocation would be reserved for Ye, with 10% going toward liquidity provisioning and 20% set aside for investors.

Rumors suggested that YZY would serve as a means for Ye to bypass mainstream payment and e-commerce platforms such as Shopify, which cut ties with him in response to recent antisemitic statements and other hate-filled rhetoric. Ye’s moves in the crypto space are seen by some as a potential lifeline after he was dropped by key partners, including Adidas and Balenciaga, for praising Adolf Hitler and making repeated antisemitic remarks in live interviews and on social media.

In parallel with talk of Ye’s crypto ambitions, whispers circulated that the artist sold his personal X account (@kanyewest) for $17 million to a memecoin group known as @barkmeta, presumably to facilitate a large-scale scam. Crypto influencer, Loki The Bird (@lokithebird), fueled the speculation by writing: “Kanye West sold his account to the BarkMeta Doginals crew for $17M—they’re gearing up to scam the entire space. Share for awareness and save Web3.”

There was also an image circulating, showing two phones allegedly logged into @barkmeta and @kanyewest simultaneously. However, Ye swiftly denied any involvement with these individuals or any sale of his account, stating, “This is fake, I don’t know this person.”

Hoskinson’s dismissal of any official connection to Ye underscores Cardano’s broader commitment to maintaining its position as a “serious project.” While the open-source nature of blockchain technology means that permission is not strictly required to build on Cardano, Hoskinson clarified: “He wants money and help to launch it. No one serious in Cardano is going to do it,”effectively closing the door on any partnership.

At press time, ADA traded at $0.74.

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