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ADA has skyrocketed over 72% in a week after Cardano founder Charles Hoskinson revealed plans to help shape US crypto policy under the incoming Trump administration.
The spike in the ADA price came after Hoskinson said in a Nov. 8 podcast appearance that will be spending ”quite a bit of time with members of the administration” to help craft crypto policy.
ADA pushed its monthly performance out of the red with the recent rally to trade at $0.592 as of 5.55 a.m. EST after climbing 2.1% in the past 24 hours.
Charles Hoskinson Aims To Engage With Trump Administration Officials To Influence US Crypto Policy
Hoskinson said that he’ll be in Washington often to work with key leaders in the industry on crypto policy.
While there has been no confirmation from the Trump administration that it intends to engage with Hoskinson, he said he is confident that the new administration will be open to collaborating with him.
Until then, he said he is setting up a dedicated office within Cardano to hopefully “be a part of” actual policy shaping when Trump takes office.
I'm Back https://t.co/55sN3N7Xq8
— Charles Hoskinson (@IOHK_Charles) November 9, 2024
Trump Presidency Could Lead To “Greater Flexibility To Experiment” With Crypto
Venture capital firm Andreessen Horowitz (a16z) believes there will be “greater flexibility to experiment” with crypto under the Trump administration.
“We’re very optimistic that the government will now foster innovation, accelerate progress, and enable the crypto ecosystem to thrive in the US,” said a16z Crypto legal and policy experts in an Oct. 10 blog post.
The prediction by a16z follows several bullish promises made by Trump, who positioned himself as pro-crypto ahead of the US presidential election.
Now that he is headed for a second term in the White House, the crypto industry is optimistic that the regulatory environment will improve, helping to boost market sentiment and trigger a new bull run.
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