With the US presidential elections fast-approaching, industries such as cryptocurrency have been drawn into the discussion as to what it could mean for their future. Cardano founder Charles Hoskinson has also shared his insights on the elections, particularly on the candidates, about what a victory for each candidate would mean for the crypto industry and its future.
Cardano Founder Does Not Want President Joe Biden
President Joe Biden is currently running for a second term after emerging victorious in the 2020 presidential elections. However, this time around, the 46th president of the United States is not seeing as much support as he did back then.
Cardano founder Charles Hoskinson points out the fact that the Biden administration has been particularly bad for the crypto industry. In a broadcast on X (formerly Twitter) on Thursday, he revealed his disapproval of how the Biden administration has approached the crypto industry, accusing the president of trying to hurt the industry with every chance he got.
Given this, the Cardano founder is vehemently against President Joe Biden taking office for a second term. According to Hoskinson, “A vote for Biden is a vote against the American cryptocurrency industry.”Hoskinson’s comments come in light of the White House releasing a statement that said the incumbent president plans to disapprove legislation that would allow the United States Securities and Exchange Commission (SEC) to prevent banks from holding crypto. But it seems this has come a little too late for crypto stakeholders.
While the Cardano founder does not outright endorse Former President Donald Trump, Biden’s fiercest rival, he does admit that things were much better for crypto under his administration.” The [Trump] administration had its issues but mostly ignored our industry,” Hoskinson said. “The Biden administration has engaged in a coordinated effort to kill crypto.”
Donald Trump Goes To Bat For Crypto
While President Joe Biden continues to skirt around the issue of laying out support for crypto, opposition Donald Trump has been guns out with his support for crypto. Earlier this week, Trump declared his support of the crypto industry. The former president has called on all crypto supporters to vote for him, saying, “If you’re in favor of crypto, you better vote for Trump.”
Interestingly, Trump’s support for the crypto industry did not just begin. The presidential candidate has been involved in the industry for a number of years now, even launching multiple non-fungible tokens (NFTs) collections called the “Trump Digital Trading Cards.”
These NFT collections were well-received by crypto investors, generating over 15,000 ETH in volume from OpenSea alone, with almost 14,000 unique holders. Donald Trump also holds a significant amount of Ethereum (ETH) as well as other altcoins sent to his wallet by the community.
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