Big Pey Says Hoskinson Is Done With Cardano, Here’s Why

Popular ADA content creator Big Pey claims that IOG CEO Charles Hoskinson is shifting his attention and resources away from Cardano toward Midnight.

Explaining the rationale behind the reasoning, Big Pey argued that the Cardano Foundation has repeatedly obstructed Hoskinson’s initiatives. He also criticized EMURGO, describing the organization as incompetent following the hack involving its DeFi project, SecondFi.

According to Big Pey, Midnight offers Hoskinson an opportunity to overcome the institutional and organizational challenges that have constrained his work within Cardano. 

It bears mentioning that Hoskinson has publicly backed Midnight and demonstrated a strong commitment to its development. He disclosed a personal investment of $200 million in the project, underscoring the scale of that commitment.

Previous Disagreements Have Strained Cardano’s Leadership Relationships

Big Pey’s comments follow several disagreements between Hoskinson and the Cardano Foundation over the ecosystem’s commercial strategy, funding priorities, and development direction.

Hoskinson has previously criticized the Foundation’s approach to stablecoin integrations and other ecosystem initiatives. In addition, disputes over governance, funding, and allegations surrounding historical ADA allocations have contributed to tensions between the parties. 

Despite these disagreements, relations between Hoskinson and the Cardano Foundation have not remained entirely hostile. For instance, Hoskinson publicly supported the Foundation’s Cardano Summit 2026 funding proposal, although the initiative failed to secure the votes required for approval.

This continued cooperation suggests that differences over specific decisions have not necessarily ended their broader engagement with the Cardano ecosystem.

Hoskinson Has Not Abandoned Cardano

Although Big Pey claimed that Hoskinson is effectively done with Cardano, he clarified that he did not mean the founder has completely severed ties with the ecosystem. Instead, he suggested that Hoskinson could allocate more of his time, funding, and development resources to Midnight.

Hoskinson’s public statements and continued involvement in Cardano initiatives also complicate the claim that he is walking away from the project. The IOG founder has defended Cardano’s decentralized governance model, arguing that the ecosystem’s progress depends on collective participation rather than the efforts of a single individual.

Furthermore, Hoskinson has highlighted initiatives involving Midnight and RealFi, alongside integrations with infrastructure providers such as Circle, Pyth, and Fireblocks, as part of broader efforts to strengthen Cardano’s position.

Although Big Pey’s commentary raises questions about how Hoskinson may distribute his attention and resources between Cardano and Midnight, his claims do not establish that Hoskinson has abandoned Cardano.