Cardano
$0.03694 -4.36%
ADA · 20w

Cardano Foundation Joins Industry Membership Group to Establish Regulatory Guidelines for Crypto

Cardano (ADA) crumbling, down 18.7 percent Facebook gives nothing in return says, Charles Hoskinson

Charles Hoskinson, the co-founder of Cardano, is often brazen. After forcing changes in the Cardano Foundation, he now says Facebook enslaves and gives nothing in return. Presently, ADA is down 18.7 percent week-to-date.

Cardano Price Analysis Fundamentals

Online commentators believe that Facebook is a primer, readying crypto assets to new highs. With a broad user base of over 1.7 billion spread across the globe, Facebook’s stablecoin in Libra will indeed shed light on what crypto and digital assets are.

Even so, Charles Hoskinson is adamant. Arguing that despite expectations, Facebook as a tech company gives nothing in return. Instead, what the scandal-ridden social media giant does is enslave. While Talking to Finance Magnates, he said:

“I am not entering a market and looking to extract value from people. Facebook has to come into countries it doesn’t know a lot about and convinces them to enslave themselves to an economic monopoly and give nothing in return. And their only pitch is that you’ll pay less on fees.”

However, he didn’t stop there. Responding to critics busy tearing down IOHK and frustrated by shifty deadlines, Charles said:

“I also think the community has been exceedingly unfair with their criticism of our deadlines…People are saying we’re incompetent, that we don’t know what we’re doing. Moreover, there’s many people on Reddit and Twitter and other things who have said things that are just crazy. “

Candlestick Arrangement

At the time of writing, ADA is on the chopping board. Sliding 18.7 percent week to date, ADA is steadying at 10th in the market cap’s leader board. Regardless, this correction was inevitable. After months of spirited performance, ADA’s market cap surged, reflecting an improvement in prices.

Meanwhile, ranging within a 4 cents zone with caps at 9.5 cents, bears are pressin...

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