Cardano Co-Founder Charles Hoskinson Excluded from White House Crypto Summit Amidst ADA Token Surge

On March 6th, COINOTAG News reported that Charles Hoskinson, the co-founder of Cardano, will not be participating in the upcoming White House cryptocurrency summit scheduled for March 8th.

Charles Hoskinson, the co-founder of Cardano, will not be attending the upcoming White House cryptocurrency summit on March 8, CoinTag News reports.

This decision comes after former President Donald Trump announced via Truth Social that Cardano’s ADA token would be included in the U.S. cryptocurrency reserves.

Trump’s statement on Thursday morning sparked a significant surge in ADA, leading to a 100% price increase at its peak from the previous day’s prices. However, despite the strong market reaction and subsequent reports by several mainstream media outlets, including Benzinga, multiple inside sources familiar with the matter disclosed that the Cardano team has not engaged in any discussions with federal entities regarding cryptocurrency policy.

Furthermore, while Hoskinson expressed interest in attending a fundraising event for PAC MAGA Inc. to discuss ways to mobilize support for the crypto sector with key political figures, especially within the Republican party, in an effort to advance cryptocurrency-related legislation in Congress, and to advise on how to integrate cryptocurrencies into the U.S. monetary system, with the goal of making the dollar “the best cryptocurrency in the world,” according to a recent interview with Hoskinson by Benzinga, a spokesperson for the White House confirmed that Hoskinson was not on the guest list.

Earlier this year, reports by several crypto news outlets stated that members of the Cardano community were planning to sue Trump for using his image and name in an NFT collection without permission. In response to these reports, Trump announced via Truth Social on Thursday that he would be adding Cardano’s ADA token to the U.S. cryptocurrency reserves.

According to data from CoinGecko, at the time of writing, ADA is trading at $0.37 over the past 24 hours. At the time of Trump’s announcement, ADA was available for $0.20. Following the news, ADA experienced a surge of over 100% to reach a high of $0.41, marking its highest price since December 2021.

Announcing the integration of Cardano’s ADA into the U.S. cryptocurrency reserves, Trump wrote:

“Great News: We will be adding the cryptocurrency ADA, also known as Cardano, to the U.S. Cryptocurrency Reserves. This is a tremendous addition to our portfolio and will benefit the American people immensely. Everyone is saying it, Cardano is a fantastic cryptocurrency with a brilliant co-founder, they will be making פנימי MAGA Inc. to discuss how to better mobilize support for the crypto sector with key political figures, especially within the Republican party in an effort to advance cryptocurrency-related legislation in Congress, and to advise on how to integrate cryptocurrencies into the U.S. monetary system, with the goal of making the dollar “the best cryptocurrency in the world.”

Earlier this year, several crypto news outlets reported that members of the Cardano community were planning to sue Trump for using his image and name in an NFT collection without permission.

Earlier this year, several crypto news outlets reported that members of the Cardano community were planning to sue Trump for using his image and name in an NFT collection without permission. In another Truth Social post on Thursday, Trump announced that he would be adding Cardano’s ADA token to the U.S. cryptocurrency reserves.

“A Magnificent Addition to the U.S. Cryptocurrency Reserves!”

At the time of writing, ADA is trading at $0.37, showing a 24-hour price change of 6.78% and a seven-day price change of 90.06%, with a 24-hour volume of $2,174,648,865.

Earlier this year, a report by Benzinga stated that Charles Hoskinson, the co-founder of Cardano, expressed his interest in attending a fundraising event for PAC MAGA Inc. to discuss ways to mobilize support for the crypto sector with key political figures, especially within the Republican party in an effort to advance cryptocurrency-related legislation in Congress, and to advise on how to integrate cryptocurrencies into the U.S. monetary system, with the goal of making the dollar “the best cryptocurrency in the world.”

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