Cardano’s Charles Hoskinson says he’s ‘lost over $3 billion’ in crypto but declined to cash out

Charles Hoskinson, the CEO of Input Output Global (IOHK) and co-founder of the Cardano and Ethereum blockchains, recently made a candid admission regarding the extreme volatility of the cryptocurrency market, revealing that he had ‘lost over $3 billion’ from his peak net worth. This staggering figure represents the difference between the highest valuation of his crypto portfolio, primarily consisting of Cardano’s native token ADA, during the 2021 bull market and its subsequent decline.

Crucially, Hoskinson emphasized that despite this massive paper loss, he deliberately chose not to liquidate his assets. His decision underscores a deep commitment to the long-term vision of the Cardano project and the wider goal of decentralized infrastructure, prioritizing the development and adoption of Web3 solutions over personal financial gain.

Speaking in a recent interview, Hoskinson framed the decision not to cash out as a philosophical one, reinforcing the ‘HODL’ ethos prevalent among foundational figures in the crypto space. His stance highlights the inherent risks and dedication associated with holding substantial assets in decentralized ecosystems, where market fluctuations can rapidly alter fortunes without deterring the underlying development roadmap of the blockchain.

Source: Cardano’s Charles Hoskinson says he’s ‘lost over $3 billion’ in crypto but declined to cash out