Cardano boss Hoskinson has a serious strategy for small investors – without 100x profit promises ROI claims
- Charles Hoskinson criticizes lurid 100-fold profit promises and has a serious alternative for small investors.
- He emphasizes that real opportunities for profit lie in the development of useful applications for everyday use.
Earlier this week, Cardano (ADA) founder Charles Hoskinson transferred one Live-Stream titled “Hang in There.” In it he discussed some of the upheavals that have characterized the crypto market in recent years.
He began with the remark:
“We lost retail in 2021… Do you know what happened? The industry started selling images of bananas as NFTs for $1.5 million. People were selling tweets, not even the actual tweets, just NFTs representing tweets, for hundreds of thousands of dollars.”
He emphasized that many retail investors have not yet recovered from disasters such as the Terra Luna crash, in which around $60 billion in market value was lost and companies with too little equity such as Three Arrows Capital, Celsius and Voyager went bankrupt.
Hoskinson also mentioned the collapse of FTX in 2022, in which the centralized exchange and its founder, Sam Bankman-Fried, embezzled $8 billion.
Hoskinson’s retail alternative
Cardano inventor Hoskinson is convinced that the crypto industry will only regain retail acceptance if it offers customers useful products. He argues that such a product must offer economic agency, personal identity, self-custody and sound money. These are the elements that enable individuals to control their financial affairs.
He called for building a community of retail customers who are able to control their privacy and enjoy the freedom to choose who they interact with.
Cardano has put these ideas into practice and is working to build infrastructure across industries while supporting and growing its community. The Cardano Summit took place in Berlin on November 12th and 13th, attended by over 1,000 executives and more than 75 speakers from the industry. The next summit is scheduled to take place in Singapore on October 26.
As CNF reported, Cardano’s Midnight Mainnet, its privacy-first network, is expected to launch in 2026 – although the NIGHT token is scheduled to be issued as early as December 8th. Most exchanges want to list NIGHT from day one, for which 4.5 billion tokens are earmarked.
ADA is currently at 0,4467 $ traded, representing an increase of 3,57 % in the past week means even though sales are up 22 % on 758 Mio $ has fallen.
No Comments