The post Cardano Founder Slams Crypto Media for Misleading ‘Charles’ Memecoin Report appeared on BitcoinEthereumNews.com.

Cardano founder Charles Hoskinson bashes crypto media for reliance on artificial intelligence, low-quality content, and lack of fact-checking. The Cardano community is no stranger to memecoins, especially those inspired by the network’s founder Charles Hoskinson. However, a recent memecoin has sparked confusion that has further been complicated by erroneous reporting. A Tale of Two Charles’ Hoskinson expressed these concerns on Sunday, February 2, citing a report likely to deepen confusion around a recently launched memecoin inspired by and named after the Cardano founder. This is how bad the crypto media is: https://t.co/BpuR73EkcQ they don’t even understand there are two different tokens. Everything is AI-written, low quality, and almost no fact-checking. We need to do better as an industry — Charles Hoskinson (@IOHK_Charles) February 2, 2025 The report erroneously claimed that Hoskinson had promised holders of the Official Charles Memecoin (Charles) exclusive content in April 2025 as compensation for losses faced by holders.  Official Charles Memecoin (Charles) was launched by an unknown community member last week. The project tried to gain traction by sending 90% of the supply to a wallet showcased by Hoskinson on a live stream to try out new features of Lace. Hoskinson, however, wanting no part in it, promptly permanently removed the allocated tokens, which at their peak were worth over $80 million on paper, from circulation in a separate and lighthearted livestream, where he discouraged users from sending him tokens.  While this reduced supply can often boost sentiments around an asset, this was a death blow for the memecoin, whose hype was built around Hoskinson’s holdings. As holders dumped, the asset’s diluted market value quickly fell from highs of over $70 million to just below $300,000 at the time of writing. Despite this outcome and as opposed to the report slammed by Hoskinson, the Cardano founder…

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Filed under: News - @ February 3, 2025 6:20 pm