Hoskinson Denies Responsibility for Cardano's Weak Performance
Charles Hoskinson, the founder of Cardano (ADA), has denied claims that he is responsible for the cryptocurrency's adoption and ecosystem growth. In a recent interview, Hoskinson stated that Cardano is a decentralized network, and he does not hold an official leadership role. This comes after a market commentator criticized the Cardano camp for not focusing enough on expanding adoption and developer activity.
Hoskinson emphasized that 'founders aren't slaves,' rejecting the view that network performance and expansion are an individual founder's duty. He also clarified that he is not Cardano's CEO, but rather the CEO of IOG, a blockchain research and engineering company that has played a major role in Cardano's development.
The debate over who bears responsibility for Cardano's weak performance has been ongoing, with long-term holders expressing dissatisfaction over ADA's price weakness. ADA has fallen sharply from its all-time high of $3.10 set in September 2021 and traded around $0.2491, about 92 percent below its peak.