Cardano Founder Reveals Over $3B in Personal Crypto Loss as ADA Crashes 92%

Cardano founder Charles Hoskinson has responded to public criticism of his wealth and motives, revealing that he has personally lost over $3 billion through his crypto holdings. 

Hoskinson made the disclosure during a recent livestream, stressing that his long-term involvement in crypto is driven by principles and purpose, not personal profit. 

Key Points

• Cardano founder Charles Hoskinson says his personal crypto paper losses have surpassed $3 billion.
• He attributes the losses to his decision not to cash out during market peaks.
• Hoskinson maintains that his commitment to crypto is rooted in principles, not profit.
• Although ADA has rebounded to $0.2645, it remains 91.46% below its all-time high of $3.10.

Cardano Founder Records Over $3B in Unrealized Losses 

During the session dubbed ‘Red Days,’ he directly addressed claims that his wealth insulates him from the struggles of everyday investors. In response, he said he lost more than $3 billion in paper value by refusing to cash out during market peaks. 

Despite the scale of the loss, he emphasized that he doesn’t care about losing it all. According to him, anyone who believes his participation in crypto is money-driven is mistaken.

Moreover, Hoskinson pointed to his clean track record in an industry often plagued by controversy as further proof of his stance. He noted that his name has never appeared in major scandals such as the FTX collapse or other high-profile financial and ethical crises, including the Jeffrey Epstein saga. 

More Red Days Ahead 

His remarks come amid one of the sharpest crypto market downturns in recent times. On February 5, the market plunged, wiping out nearly 10% of total value within hours. Bitcoin, Ethereum, and Cardano all recorded double-digit losses. 

Notably, ADA fell to $0.2262 yesterday, marking a 32% drop from its January 1 opening price of $0.3328. Although it later rebounded to $0.2645, the token remains down 91.46% from its all-time high of $3.10.

Looking ahead, Hoskinson warned that more red days could lie ahead in the coming weeks and months. He explained that such resistance is expected as the crypto industry pushes to transform the global financial system. 

In his view, investors face two choices. They either walk away by declaring everything a scam and collapsing, or brace themselves and view the downturn as one of many challenges on the difficult path toward financial freedom.