 ▲ Charles Hoskinson, founder of Cardano (ADA) / AI-generated image |
Charles Hoskinson, the founder of Cardano (ADA), has confessed to personally suffering massive losses exceeding $3 billion amid the cryptocurrency market’s historic downturn.
According to cryptofocused media outlet The Crypto Basic on February 6 (local time), Hoskinson revealed during a recent livestream that his cryptocurrency portfolio has incurred more than $3 billion in unrealized losses. As market leaders Bitcoin (BTC) and Ethereum (ETH) plunged simultaneously, Cardano collapsed by 91.46% from its all-time high of $3.10, delivering what can only be described as disastrous performance. Hoskinson explained that his decision not to liquidate assets at the market peak led to these enormous paper losses.
Hoskinson directly refuted criticism that his wealth is detached from the suffering of ordinary investors. He stated that his personal cryptocurrency investments are based on principles and purpose rather than money, expressing indifference even if all his assets were to vanish. He also asserted moral superiority by emphasizing that his name has never once been associated with scandals or ethical violations, even as the crypto industry has faced numerous controversies and crises.
The market is interpreting Hoskinson’s admission not merely as a personal loss but as a warning signal for the broader ecosystem. On February 5, Cardano experienced a sharp crash in which 10% of its total market capitalization evaporated within just a few hours, falling to $0.2262. This represents a 32% drop from the $0.3328 recorded on January 1. Although prices partially rebounded to around $0.2645, the recovery has been insufficient to reverse the overall downtrend. Analysts suggest that the founder’s direct acknowledgment of such massive losses may be further fueling market fear.
Hoskinson warned that additional downturns could continue in the coming weeks or months. He characterized the current pain as inevitable resistance faced by the cryptocurrency industry as it seeks to transform the global financial system. He added that investors are left with only two choices: to dismiss the situation as a scam and leave, or to accept and endure it as part of a harsh journey toward financial freedom.
Following the disclosure of the Cardano founder’s asset losses, the cryptocurrency industry is closely watching whether sufficient funding can be secured for future project operations. While Hoskinson has reaffirmed his commitment to continuing the technological development of the Cardano ecosystem regardless of his personal losses, investor sentiment remains cold. As Bitcoin faces pressure around the $60,000 level in an extreme market environment, skepticism is deepening over whether Cardano can truly endure this harsh winter on the strength of its founder’s convictions alone.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses based on this information. The content should be interpreted solely for informational purposes.*