TL;DR
Charles Hoskinson, founder of Cardano, predicts that Biden’s anti-crypto stance could cost him reelection in 2024.
Charles accuses Senator Elizabeth Warren of negatively influencing the Biden administration’s crypto policy.
Highlighting the support of candidates like Kennedy Jr. and Donald Trump for the crypto industry, Hoskinson urges voters to elect leaders who support a favorable regulatory environment for cryptocurrencies.
Charles Hoskinson, the founder of Cardano, has made his prediction about the 2024 US presidential election, asserting that President Joe Biden’s anti-cryptocurrency stance could be a decisive factor in his potential defeat. Known for his frankness, Charles has not hidden his discontent with the current administration, describing a bleak outlook for the crypto industry under the government’s strict regulations.
Hoskinson expressed his frustrations and concerns on social media regarding the Biden administration’s regulatory approach. He maintains that there has been a systematic effort by regulators to harm the crypto industry, forcing numerous companies to seek friendlier shores abroad, negatively impacting the US economy.
Charles also directed his criticism at Senator Elizabeth Warren, suggesting that she has played a key role in shaping the administration’s anti-crypto policy. Hoskinson insinuated a supposed agreement between Biden and Warren, in which she withdrew her presidential candidacy in exchange for influencing treasury policy, positioning decision-makers with an anti-crypto stance.
Despite numerous efforts by the crypto sector to engage constructively with regulators, including meetings, private dinners, and open letters, Hoskinson argues that these initiatives have failed to change the government’s narrative. Major platforms such as Robinhood, Coinbase, Binance, and Uniswap have been subject to punitive actions by the SEC, evidencing a clear intention to hinder the advancement of the crypto industry.
Hoskinson Calls to Vote for Pro-Crypto Candidates
Furthermore, he warned about the possible political repercussions of the current administration’s stance. According to him, the Biden administration underestimates the impact that the crypto community could have in the upcoming elections. If Biden loses his reelection and cryptocurrencies are a decisive factor, no Democrat will adopt an anti-crypto stance in the near future.
In contrast, both Kennedy Jr. and former President Donald Trump, candidates for the White House, have promised their support for the crypto industry, marking a clear divergence in policies between the two politicians and Biden. Their backing could influence voters who see cryptocurrencies as an opportunity for innovation and economic growth.
Hoskinson also mentioned that, despite the adversities, it is crucial for voters to take an active role in shaping the political future. He called for electing representatives who understand and support the potential of the crypto world, envisioning a future where legislators and political leaders are digital natives, capable of fostering a more favorable and inclusive regulatory environment.
The impact of cryptocurrencies on the US economy and politics is increasing. With only 17% of Americans investing in digital assets, the founder of Cardano emphasizes the importance of clear and consistent regulation that allows for the growth and legitimacy of this sector. The next election could be a crucial turning point, not only for crypto policy but for the country’s economic future.
