Cardano founder Charles Hoskinson has disclosed that he was totally unaware of U.S. President Donald Trump’s decision to include ADA, Cardano’s native token, in a proposed cryptocurrency reserve. Hoskinson only found out about this on the day of the announcement.

“We knew nothing about ADA being selected for the reserve. It was news to me,” Hoskinson stated in a video released on March 5, 2025. He recalled waking up on March 2 to receive numerous congratulatory messages, leaving him puzzled. “I had no idea what the heck was going on,” he admitted.

He explained that neither he nor his team had any prior discussions with officials regarding Cardano’s inclusion. “Nobody even talked to us about it,” he noted, lamenting the vague responses they received during previous attempts to engage with policymakers.

Trump’s Surprise Crypto Reserve Announcement

Trump revealed his crypto reserve proposal on March 2, indicating that it would “obviously” include Bitcoin (BTC) and Ether (ETH), but it also raised eyebrows by including XRP, Solana (SOL), and Cardano (ADA).

Following the announcement, ADA’s price skyrocketed by 76% within hours, climbing from $0.647 to $1.14 before dropping 30% the next day. This abrupt increase and subsequent fall led to skepticism from industry leaders, with some questioning the logic of including multiple assets in the reserve.

Hoskinson also commented on the upcoming White House crypto roundtable that was set for March 7, expressing uncertainty about Cardano’s participation. “I’m going to operate under the assumption that I have not been invited to this gathering,” he stated, further adding, “I don’t imagine much policy work will be done.”

“While these events put a spotlight on the topic, real work requires many people from across the spectrum to work together,” he asserted.

He also critiqued the notion that political endorsements translate into market success, describing it as a “popularity contest” that fails to advance the industry. “If you believe for a moment that your cryptocurrency is going to do well because somebody went to a ‘vanity fair,’ you’re a fool,” he remarked.

Lawmakers Push Crypto Discussions Forward

Meanwhile, Fox Business correspondent Eleanor Terrett reported that Senator Tom Emmer and Representative Bryan Steil hosted a “Crypto Power Lunch” on March 5, 2025, to deliberate on digital asset policy initiatives and legislation. The meeting included representatives from major crypto trade organizations such as the Digital Chamber and Blockchain Association, alongside corporate executives from Paradigm, Andreessen Horowitz, Coinbase, Consensys, and Anchorage Digital.