With the US presidential election fast approaching, industries like cryptocurrency have been drawn into the discussion about what it could mean for their future. Cardano founder Charles Hoskinson also shared his thoughts on the elections, particularly the candidates, on what a victory for each candidate would mean for the crypto industry and its future.
Cardano Founder Doesn't Like President Joe Biden
President Joe Biden is currently running for a second term after emerging victorious in the 2020 presidential election. However, this time around, the 46th president of the United States is not receiving as much support as he did back then.
Cardano founder Charles Hoskinson points to the fact that the Biden administration has been particularly bad for the crypto industry. In a broadcast on
Given this, the Cardano founder is vehemently opposed to President Joe Biden taking office for a second term. According to Hoskinson, “a vote for Biden is a vote against the American cryptocurrency industry.” Hoskinson's comments come in light of the White House's release of a statement that said the sitting president plans to disapprove legislation that would allow the U.S. Securities and Exchange Commission (SEC) to prevent that banks have cryptocurrencies. But it seems this has come too late for cryptocurrency stakeholders.
While the Cardano founder does not outright endorse former President Donald Trump, Biden's fiercest rival, he does admit that things were much better for cryptocurrencies under his administration. “The (Trump) administration had its problems but mostly ignored to our industry,” Hoskinson said. “The Biden administration has engaged in a coordinated effort to crack down on cryptocurrencies.”
Donald Trump is going to bat for cryptocurrencies
While President Joe Biden continues to dodge the issue of establishing support for cryptocurrencies, opposition Donald Trump has been furious with his support for cryptocurrencies. Earlier this week, Trump declared his support for the cryptocurrency industry. The former president has called on all cryptocurrency supporters to vote for him, saying: “If you are pro-cryptocurrency, you better vote for Trump.”
Interestingly, Trump's support for the cryptocurrency industry is not just beginning. The presidential candidate has been involved in the industry for several years, and even launched multiple non-fungible token (nft) collections called “Trump Digital Trading Cards.”
These nft collections were well received by cryptocurrency investors and generated over 15,000 eth in volume since Open sea alone, with almost 14,000 unique headlines. Donald Trump also owns a significant amount of ethereum (eth), as well as other altcoins sent to his wallet by the community.
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ADA price starts to recover from dip | Source: ADAUSDT on Tradingview.com
Featured image from CNN, chart from Tradingview.com
