Trump vs Biden: Cardano Founder Shares Insights On Stronger Advocate For Crypto

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The founder of Cardano (ADA), Charles Hoskinson, recently spoke up about the possible effects of the upcoming November 2024 US Presidential elections on the crypto industry. He expressed his concerns in response to a report by Blockworks, a crypto insights and news provider, which downplayed the significance of voting solely based on crypto-related matters. 

Hoskinson also highlighted how the Trump administration might have advantages and a more favorable option than Joe Biden for the advancement of the crypto industry. 

Cardano Founder: Don’t ignore crypto’s role in the upcoming elections

The Cardano boss disagreed with Blockworks and stressed the importance of crypto in holding governments and corporations accountable. 

He said, “Crypto gives us our voices, financial freedom, and shared humanity back. Any politician who opposes that is dangerous.”

Hoskinson sees a candidate’s stance on crypto as a big deal. He sees being anti-crypto as the worst form of totalitarianism, stripping away our agency freedoms and economic identity. He warns that ignoring crypto’s interests in elections could bring Central Bank Digital Currencies, more surveillance, and limited social mobility. 

Supporting candidates who understand the value of crypto is incredibly important, and he made it clear that he’s not endorsing Biden, even though some people in the community may think otherwise. 

He mentioned that as someone on the left, he understands that the 20% of Americans who hold crypto are upset with Biden for causing harm to the industry without much reason. 

As Crypto assets are becoming intertwined with the political scene, Gary Gensler, the Chairman of the SEC did not share this sentiment. He is frustrated by the excessive focus on crypto in the media, calling it a small fraction of finance

Crypto takes the political stage 

Donald Trump, former President of the United States, has openly supported cryptocurrencies during a rally at Mar-a-Lago. 

He positioned himself as the candidate who stands with crypto, setting himself apart from President Joe Biden and the Democrats. His recent stance has caused a stir in both political and crypto circles. 

The Cardano Founder did not hold back from expressing his thoughts and accused United States President Joe Biden of actively trying to dismantle the crypto industry in the country.

He made this bold claim to point out the government’s actions, like limited bank account access and the SEC’s enforcement-based regulation. And how the White House’s obstructing legislative processes is another setback for the industry. 

This clash of perspectives came about because President Biden’s office stated that he would veto any legislation aiming to reverse the SEC guidelines that discourage banks from holding crypto assets.

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