Cardano founder Charles Hoskinson not invited to White House Crypto Summit

Cardano founder Charles Hoskinson not invited to White House Crypto Summit

In the US, the White House is focusing on the crypto industry with an official summit and has also invited Blockchain founders for discussions. However, Cardano’s inventor Charles Hoskinson was not selected by the US President’s team.

To the surprise of US media and the crypto scene, Charles Hoskinson was not invited to a summit at the White House. US President Joe Biden’s team is currently organizing official consultations on the situation of cryptocurrencies in the country, which amongst other things are intended to advance regulatory plans. However, the founder of Cardano (ADA), Charles Hoskinson, who is considered one of the most influential players in the American crypto industry, did not receive an invitation to the White House. Verifiable invitations have been issued to companies such as Ethereum founder Vitalik Buterin and Circle, the organization behind well-known Stablecoin USDC.

Hoskinson himself reacted smugly to the summit, which North American regulators and executives from leading companies such as Binance and Coinbase are also expected to attend. He stressed that he does not understand politics as a soap opera and the debate about crypto assets needs fresh approaches anyway. An effective opinion on crypto topics, according to Hoskinson, is rather supposed to be born in open online discussions in the growing Cardano community and then spread from there.

For Cardano, this clarification in the USA is another component of a strategic approach that seeks the success of ADA in an environment based primarily on transparency and partnerships. In addition to the technological development of Cardano, there is also an approach with self-developed solutions for DeFi, a branch with which Ethereum (ETH) made the breakthrough in the direction cherished by US regulators. Of course, a clear regulatory framework for Cardano in the USA would help, but Hoskinson still seems to promote ADA as he would if he had received an invitation to the White House.

In any case, the US summit should help produce draft legislation that at least addresses the problem zones of fraud, pressure on platforms, and protection of customers with precision. However, Hoskinson observers see the remarkable fact that, when it comes to the true interests of Cardano founder, the market position of ADA, as well as the growth goal for his own IOHK and Hydra projects, did not result in an invitation. In terms of other influential American crypto projects such as Solana (SOL), it remains unknown whether their decision-makers will be invited to the White House in the near future. This aspect is being criticized by some in the crypto scene and is framed by the assessment that the White House moves towards projects where considerable progress has been made and can thus better refine their regulatory plans.