Cardano founder Charles Hoskinson revealed that he had no prior knowledge of ADA being selected for a proposed US crypto reserve by former President Donald Trump.
In a video posted on March 5, Hoskinson stated, “We knew nothing about ADA being selected for the reserve. It was news to me.” He recalled waking up on March 2 to an overwhelming number of congratulatory messages but was completely unaware of what had happened.
“We never even knew about it, and nobody even talked to us about it,” he said, adding that previous attempts to engage in such discussions were met with vague responses like “We’ll call you back” or “We’ll figure it out.”
Trump’s proposal for a US crypto reserve, announced on March 2, named Bitcoin (BTC) and Ethereum (ETH) as expected choices but surprised many by including XRP, Solana (SOL), and Cardano (ADA).
Following the announcement, ADA surged 76% in just a few hours, climbing from $0.647 to a high of $1.14 before correcting by 30% the next day.
The proposal sparked debate among crypto analysts and executives, with some criticizing the inclusion of altcoins alongside Bitcoin.
No Invitation for Hoskinson to White House Crypto Summit
Hoskinson also addressed the upcoming White House crypto roundtable scheduled for March 7, noting that neither he nor any Cardano representatives had been invited.
“I’m going to operate under the assumption that I have not been invited to go to this gathering,” he said, suggesting that significant policy work is unlikely to come from the meeting.
He emphasized that meaningful regulatory progress requires collaboration across various stakeholders and agencies, rather than exclusive discussions in small groups.
“It’s not helpful as an industry to treat all this as some sort of popularity contest,” he remarked, warning against placing too much significance on high-profile events.
Meanwhile, Fox Business correspondent Eleanor Terrett reported that Senator Tom Emmer and Representative Bryan Steil hosted a “Crypto Power Lunch” on March 5 to discuss digital asset policies. Attendees included members of major crypto organizations and firms such as Paradigm, Andreessen Horowitz, Coinbase, Consensys, and Anchorage Digital.
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