Charles Hoskinson, founder of IOG, has returned with a significant announcement regarding his involvement in Donald Trump's new administration, inciting swift changes in the cryptocurrency market.
Charles Hoskinson's Return
Charles Hoskinson, founder of IOG and Ethereum co-founder, has returned online after a brief absence on the X platform. In his recent video, he laid out plans for 2025, which include playing a role in shaping cryptocurrency policy.
Role in Trump Administration
Hoskinson announced he will work closely with U.S. lawmakers to develop a more comprehensive and favorable regulatory framework for the digital asset industry. 'The crypto policy should be written by the American people and industry,' he stated. To achieve this, IOG plans some internal changes to establish a dedicated office for crypto legislation.
Market Reaction to the News
The news of Hoskinson's potential involvement in the Trump administration immediately affected the Cardano (ADA) token's price. Shortly after the announcement, ADA surged by 30%, reaching a multi-month peak of nearly $0.6. This significant change highlights the market's response to the possibility of U.S. crypto policy changes.
Hoskinson's potential involvement in the Trump administration and prospect of U.S. legislative changes could bring significant shifts in the cryptocurrency industry, as reflected in the market's positive reaction.
