PANews reported on September 20 that Charles Hoskinson, former co-founder of Ethereum and founder of Cardano, warned that the new digital asset platform promoted by Donald Trump and his sons could "scare" the industry, according to the Financial Times. Hoskinson said: "Trump is launching a DeFi application, which is terrible for my industry because everything Trump does is strongly opposed by the left. He turned bipartisan cooperation into a partisan dispute." Hoskinson said that the Democratic Party "will try to weaponize American institutions to slow down and harm Trump. Therefore, I would not be surprised if the Department of Justice, the Department of Taxation, or the U.S. Securities and Exchange Commission investigates the new platform. Then the entire industry will be hit and cause a lot of problems."

Hoskinson doubts that either presidential candidate in the U.S. election will foster a strong cryptocurrency industry in the country. "I don't think the quality and sophistication of the discussion in the crypto space has been reached by Trump or Harris," Hoskinson said. He said the president, if elected in November, may have a hard time delivering on his pro-crypto policy promises. Hoskinson said the high turnover of staff within the Trump administration made it difficult for him to recruit the right people into the administration to grow the industry. He added that Harris "seems to be a continuation of Biden's disastrous policies for the crypto industry."

Hoskinson said the U.S. could get "$5 to $10 trillion worth of cryptocurrencies" in the next 10 years if it passes legislation that brings clarity to the cryptocurrency market and "stops suing companies and shutting down bank accounts." He added that he has a more positive attitude toward the legislative branch of U.S. policymaking, saying he has had productive conversations with Republican Senators Tim Scott and Cynthia Lummis and Democratic Senator Ron Wyden.