Cardano ($ADA) Founder Plans to Collaborate with the US President Donald Trump, $ADA pumps 74%

Charles Hoskinson has clarified his intentions for the future of the crypto space within U.S. jurisdiction, revealing plans to collaborate with the Trump administration.

Charles Hoskinson, the founder of the Cardano blockchain and co-founder of Ethereum, launched Cardano in 2017 through his organisation Input Output Hong Kong Global (IOG). Since its inception, IOG has worked to enhance Cardano in phases to make it a practical solution to the limitations of traditional digital technology.

On November 10, 2024, Hoskinson discussed his future plans in a live YouTube session, expressing his intent to drive crypto and blockchain technology under more favourable regulations in the U.S. He highlighted the need to secure bipartisan support for crypto-friendly policies, given the ongoing regulatory scrutiny faced by Cardano ($ADA), Bitcoin, and other major crypto networks in the U.S.

Hoskinson announced that IOG will establish a Crypto Policy Office focused on digital asset regulation, addressing legislation such as the Responsible Financial Innovation Act (RFIA) and the Financial Innovation and Technology for the 21st Century Act (FIT21). He also emphasised his intention to work directly with lawmakers to develop a bill with support from both parties.

Additionally, Hoskinson discussed potential adoption of Cardano’s blockchain technology to simplify Bitcoin use on the Cardano blockchain in a fully decentralised manner.

$ADA Price Action

The trade price of ADA, Cardano’s native token, is currently $0.59, marking a 34% increase over the past 24 hours—a significant jump for any leading cryptocurrency in such a short timeframe.

Hoskinson also commented on this price surge. Known for his generally calm stance on ADA’s trade price, he typically avoids promoting hype or trends that could impact Cardano’s token value.

Read also: Bitcoin (BTC) Soars to Record High of $79,800 – Is the Milestone $100K Mark Just Days Away?