The cryptocurrency market continued its sharp decline this week, and Cardano founder Charles Hoskinson publicly acknowledged the scale of his personal losses, saying his crypto holdings are down by more than $3 billion in unrealized value.
Charles Hoskinson Addresses Crypto Losses Publicly
Speaking during a livestream from Tokyo, Hoskinson described the loss as paper-based and emphasized that he has no plans to sell. He stated that despite the scale of the decline, he remains committed to the long-term development of the blockchain industry and Cardano’s ecosystem.
Hoskinson addressed criticism from retail investors by noting that he has absorbed larger losses than most market participants. He framed the downturn as part of a broader industry cycle rather than a failure of the technology itself.
Cardano Price Drops Sharply With Broader Market
Cardano’s native token ADA fell more than 11% in 24 hours, trading near $0.25. The price is now down roughly 92% from its all-time high of $3.09 reached in September 2021. The broader crypto market also declined, with major assets posting double-digit losses amid weak sentiment and low liquidity.
Hoskinson reiterated his view that 2026 represents a structural reset for crypto rather than a typical bull market. He pointed to continued development on Cardano, including Hydra scaling, the Leios consensus upgrade, and the Midnight sidechain, as signs of long-term progress despite current market pressure.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.