No crypto law? Czar should go
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Cardano founder Charles Hoskinson criticized the Trump administration’s approach to cryptocurrency in an interview aired Sunday, taking direct aim at White House cryptocurrency czar David Sacks. Summary Hoskinson warned that failure to pass a long-awaited crypto market structure bill this quarter would mark a clear failure of White House crypto czar David Sacks. Hoskinson labeled the Official Trump memecoin “catastrophic.” Once a Trump booster, Hoskinson has grown increasingly skeptical, Speaking on The Wolf of All Streets Podcast, Hoskinson questioned whether a long-awaited cryptocurrency market structure bill—dubbed the US Digital Asset Market Clarity Act—would pass in the first quarter. Hoskinson said: “If it doesn’t pass this quarter, I think David Sacks should resign. He’s utterly failed us as an industry. If you’re the czar and you’re in charge of this whole thing, I’ve got to judge you by your track record.” Hoskinson also criticized the launch of the Official Trump (TRUMP) memecoin, faulting Sacks for failing to curb Trump-linked ventures that he said have complicated efforts to pass crypto legislation. He called the TRUMP memecoin “catastrophic” for the industry and warned that Democrats could seize on the episode to campaign in the midterms on an explicitly anti-crypto platform. “And the problem is Trump’s name’s on it. So it’s really hard to run away from it and say he had nothing to do with it,” Hoskinson said. Sacks, a prominent venture capitalist, was appointed White House AI and Crypto Czar by Trump in December 2024. Last year, Sen. Elizabeth Warren (D-Mass.) raised concerns that Sacks may have exceeded his term limits as a special government employee to influence crypto policy. Another penny drops Once a vocal Trump supporter ahead of the 2024 election—after accusing former President Joe Biden of undermining the crypto industry—Hoskinson has since grown more skeptical. Notably, Trump later cited…
Filed under: News - @ January 12, 2026 10:25 pm