Cardano founder Charles Hoskinson says he has lost over $3B in crypto but refuses to cash out

Charles Hoskinson has lost over $3 billion in crypto but has chosen to stay committed, regardless of recent market losses, the founder of Cardano said during a Thursday livestream.

“It’s easy for you to say, Charles, you’re rich. You can ride it out. I’ve lost more money than anyone listening to this, over $3 billion now,” Hoskinson said. “It’d have been real easy to cash out. Just walk away. And do you think I honestly care if I lose it all? Do you think I’m doing this for money? You’re pretty mistaken if you do.”

Hoskinson emphasized that he is not motivated by personal gains and has avoided major scandals like the FTX fallout or the Epstein files by consistently turning down questionable opportunities and prioritizing integrity over access or influence.

He previously criticized some industry leaders for accepting the flawed CLARITY Act in exchange for power, wealth, and elite status.

Commenting on market conditions, Hoskinson encouraged the crypto community to endure the “red days” and focus on collaboration and continued development.

“It’ll get worse. It’ll get redder. It is what it is. But at the end of the day, are you having fun? Find a way to. And know that each and every one of you in the cryptocurrency space, you’re doing something that matters. You’re doing something that has the potential to change the world,” he said.

On Cardano, Hoskinson expressed optimism about the project’s infrastructure, governance, and future commercialization despite the downturn, with projects like Hydra, Leios, and Midnight showing development progress.

Hoskinson co-founded Ethereum before leaving the project in 2014. He launched Cardano in 2017 through IOG with a focus on scientific research and sustainable blockchain design.

In his remarks last night, Hoskinson also praised Ethereum co-founder Vitalik Buterin and Solana co-founder Anatoly Yakovenko as allies in advancing crypto adoption.