Co-founder of the Cardano platform, Charles Hoskinson, announced that his cryptocurrency portfolio has suffered unrealized losses of over $3 billion due to a prolonged market downturn. Despite the significant drop in asset values, the entrepreneur emphasized that he has no intention of realizing losses or leaving the market.
This is reported by Business • Media
Market Decline and Hoskinson’s Position
During a live stream from Tokyo, Charles Hoskinson explained that the loss is “paper,” meaning it reflects only the current depreciation of assets without any sales. The businessman noted that he has the option to exit the market, but he consciously chooses to refrain from this step.
“The scale of the losses does not change my attitude towards the industry: I see no reason to stop working on the Cardano ecosystem, and I urge digital asset holders to remain engaged despite market pressure.”
The statements came against the backdrop of a prolonged correction affecting nearly all major crypto assets. Over the past day, the total market has dropped by nearly 9%, while the Cardano token (ADA) has decreased by more than 10% — to approximately $0.26. This is more than 90% below its peak value reached in 2021.
Looking Ahead and Development Priorities
Charles Hoskinson acknowledged that the current downturn may persist, and the situation remains challenging for the entire industry. He emphasized that volatility and prolonged downturns are an inherent part of the cryptocurrency market’s development.
According to the entrepreneur, he has already recorded similar losses in the past — in previous interviews, he estimated losses in the range of $2.5 billion, linking this to regulatory uncertainty and decreased activity from retail investors.
Hoskinson identified 2026 as a period of “reset” for the cryptocurrency industry, where real products and infrastructure solutions will play a crucial role, rather than just speculative interest. Among the priority development areas for Cardano, he mentioned the scaling of the second layer Hydra, the update of the Leios consensus algorithm, and the development of the Midnight sidechain to enhance data protection.
Previously, Charles Hoskinson criticized the team of U.S. President Donald Trump for attempts to politicize the crypto industry.