Cardano Founder Feels Left Out as Coinbase Report Fails to Mention ADA

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Alex Dovbnya

Coinbase has irked Cardano founder Charles Hoskinson by ignoring one of the leading proof-of-stake blockchains in its recent market report

After Coinbase released its market outlook report for 2023, Charles Hoskinson, the founder of blockchain firm Input Output, felt that the largest U.S. cryptocurrency exchange had overlooked one of the industry’s most promising projects: Cardano. “Not a single mention of Cardano. Pretty low and pretty sad. I honestly expected better..” Hoskinson said in a tweet.

Rick McCracken, stake pool operator, and project manager at DripDropz, argues that the omission wasn’t intentional after some Twitter users started half-joking about a grand conspiracy to suppress Cardano.    

The 57-page report touches upon such topics as Ethereum upgrades, the L1/L2 landscape, Bitcoin mining, stablecoins, non-fungible tokens, and Bitcoin mining.     

In its report, Coinbase stressed that confidence in crypto has been shaken due to a string of bankruptcies. Additionally, it mentions that the FTX debacle has led to liquidity constraints.  

However, there is a silver lining. As this challenging environment continues to persist, cryptocurrencies have pulled away from their speculative origins and are now providing fertile ground for innovations in the asset class, the report adds. 

Going forward into 2023,

expects three crucial themes are expected to dominate the cryptocurrency scene throughout the next year: high-end institutional investors on the search for quality assets, new opportunities birthed by creative destruction, and wide-ranging reforms that will usher in a new market cycle.