Cardano’s Charles Hoskinson said that the Trump administration’s heavy-handed embrace has disrupted the four-year crypto market cycle, causing irrational exuberance.
Hoskinson remains strongly bullish long term, reiterating expectations of a major “gigachad bull run”.
Cardano founder Charles Hoskinson noted that the Trump administration’s support for crypto assets was initially seen as a turning point. However, he added that his heavy-handed “embrace” has, in fact, disrupted the four-year crypto cycle.
Hoskinson’s comments came during his recent interview with CoinDesk amid the massive crypto market correction.
Cardano’s Hoskinson said the Trump Administration Created “Irrational Exuberance”
Cardano (ADA) co-founder Charles Hoskinson said the early optimism surrounding the Trump administration’s pro-crypto stance has given way to concerns that the government’s approach is now distorting market dynamics.
Speaking to a leading media outlet on Nov. 17 at the Midnight Network Summit 2025, Hoskinson said the industry initially viewed Trump’s return to the White House as a clear positive for digital assets. The sentiment was driven by what he described as a dramatic reversal in U.S. policy, while moving from a restrictive environment to an accommodating one.
However, Hoskinson argued that the administration’s “heavy-handed embrace” of the sector has fueled irrational exuberance and disrupted the typical four-year crypto market cycle.
Everybody entered, myself included, 2025 thinking that the Trump administration was going to be this magic net positive for the ecosystem,
Donald Trump’s position on cryptocurrencies has shifted significantly in recent years, with his 2025 administration taking steps to recognize digital assets as a legitimate asset class. The administration has promoted blockchain innovation and begun exploring pro-crypto regulatory approaches aimed at attracting greater investment to the United States.
Hoskinson Predicts A “Gigachad Bull Run”
Cardano founder Charles Hoskinson issued a rallying call to the crypto community in a recent social media post, urging supporters to “summon the gigachad bull run we all deserve,” as reported by CNF. The comment follows his earlier bullish projections, including expectations of a major market upswing driven by broader adoption and growing speculative interest, as mentioned in our previous report.
Hoskinson has previously suggested that Bitcoin could climb as high as $250,000, particularly as major technology companies deepen their involvement in the sector.
Despite his optimism, Cardano’s Hoskinson noted that one issue persists. Drawing on more than a decade in the industry and his experience co-founding Ethereum, he criticized what he described as an increasingly reactionary and hostile tone within parts of the crypto community, arguing that it undermines progress during pivotal moments for the ecosystem.
As of now, the broader crypto market is in a state of major turmoil, facing massive selling pressure over the past week. According to a recent analysis by Galaxy Research, 72 of the top 100 cryptocurrencies by market capitalization are currently trading at least 50% below their previous all-time highs.