tl;dr
Cardano's native token, ADA, surged to its highest point since April following its founder's announcement of involvement in shaping U.S. crypto policy. Charles Hoskinson aims to be a prominent voice in the upcoming administration. Although not officially appointed, Hoskinson plans to work with lawma...
Cardano's founder, Charles Hoskinson, has announced plans to play a role in shaping U.S. crypto policy in 2025. This declaration led to a surge in Cardano's ADA token, reaching a 7-month high. Hoskinson aims to be a significant voice in the upcoming administration, although he has not been officially appointed.
In addition to his policy aspirations, Cardano plans to function as a Bitcoin Layer 2 solution and introduce a new "partner chain" called Midnight, focused on advanced privacy and selective disclosure. This development coincides with a broader uptrend in digital assets, including Bitcoin and Dogecoin.
Cardano's native token, ADA, spiked by as much as 33% to $0.64, its highest point since April, before settling at $0.58. Hoskinson's intention to influence crypto policy in the U.S. has garnered attention, although he has not been selected for an official role within the administration.
Hoskinson, known for his role in Ethereum's early development and as the founder of Cardano, aims to collaborate with lawmakers and industry leaders to shape crypto policy. While he has not been endorsed by the current administration, his prominent position in the crypto and blockchain space lends weight to his aspirations.
Furthermore, Cardano's strategic shift to operate as a Bitcoin Layer 2 solution and the introduction of the "partner chain" Midnight aims to leverage Bitcoin's security and liquidity, signaling a significant shift in Cardano's ecosystem.
This move comes amidst an overall rise in digital assets, with Bitcoin reaching a new all-time high and Dogecoin surging to levels not seen in over three years.
As the crypto landscape continues to evolve, Cardano's recent developments and Hoskinson's policy ambitions indicate a dynamic and transformative period for the cryptocurrency industry.