Trump’s Crypto Czar Should Resign If Crypto Bill Doesn’t Pass In Q1, Says Cardano Founder Charles Hoskinson

Cardano (CRYPTO: ADA) founder Charles Hoskinson slammed the Trump administration’s handling of the cryptocurrency industry in an interview aired Sunday, particularly targeting David Sacks, the White House cryptocurrency czar.

Hoskinson Attacks Sacks

Appearing on The Wolf Of All Streets Podcast, Hoskinson voiced skepticism about the passage of the cryptocurrency market structure bill, a key piece of legislation championed by industry figures, in the first quarter.

“If it doesn’t pass this quarter, I think David Sacks should resign. He’s utterly failed us as an industry,” Hoskinson said.

“If you’re the czar and you’re in charge of this whole thing, I’ve got to judge you by your track record,” he added, pointing out that most cryptocurrency tokens have slid since President Donald Trump took office.

The Consequences Of Trump Memecoin

Hoskinson also slammed the Official Trump (CRYPTO: TRUMP) memecoin launch, blaming Sacks for doing nothing in his power to prevent Trump from launching ventures that have impeded the passage of cryptocurrency bills.

He labeled the TRUMP memecoin launch as “catastrophic” for the industry and warned that the Democrats would run midterm elections on an anti-cryptocurrency plank.

“And the problem is Trump’s name’s on it. So it’s really hard to run away from it and say he had nothing to do with it,” Hoskinson said.

Sacks, a renowned venture capitalist, was appointed as the White House A.I. & Crypto Czar by Trump in December 2024.

Sen. Elizabeth Warren (D-Mass.) raised concerns last year over Sacks exceeding his term limit as a special government employee to “influence” cryptocurrency policy.

Sacks didn’t immediately return Benzinga’s request for comment.

Hoskinson Turns From Enthusiast To Skeptic

Hoskinson was one of the biggest supporters of Trump leading up to the 2024 presidential polls, accusing former President Joe Biden of actively working to stifle the cryptocurrency industry.

Interestingly, Trump mentioned ADA, Cardano’s native token, as one of the assets that would make up the U.S. cryptocurrency reserve. However, White House cryptocurrency czar David Sacks later clarified that the list of included tokens was likely an illustration of leading market-cap assets, not a definitive plan.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.