Hoskinson to Crypto Czar David Sacks: Pass the Bill or Resign
Cardano’s founder warns the window for the CLARITY Act is closing, citing the 2026 midterms and a ‘catastrophic’ failure of leadership in the White House.
Cardano founder Charles Hoskinson issued a public ultimatum to White House Crypto Czar David Sacks on Sunday: deliver the US Digital Asset Market Clarity Act (CLARITY) by the end of Q1, or step down.
Speaking on The Wolf Of All Streets Podcast, Hoskinson argued that the window for meaningful crypto legislation is rapidly closing ahead of the 2026 midterms. His critique focused on what he described as a failure of leadership from Sacks, appointed by President Trump in late 2024 to steer US crypto policy.
"If it doesn’t pass this quarter, I think David Sacks should resign. He’s utterly failed us as an industry. If you’re the czar and you’re in charge of this whole thing, I’ve got to judge you by your track record."
The Price of Inaction
Hoskinson’s frustration mirrors broader market sentiment. Since Sacks took office, major altcoins have struggled to gain traction despite the pro-crypto administration. Cardano (ADA) drifted to $0.39 (-1%) on Monday, part of a wider 40-50% drawdown across the sector that Hoskinson explicitly blamed on the lack of regulatory safeguards.
The urgency stems from the political calendar. Hoskinson warned that if Democrats retake the House in November 2026, the legislative vehicle for the CLARITY Act, and the industry’s hopes for a stable operating environment, will effectively die.
Wall Street vs. The Rest
The interview also highlighted a rift in the industry regarding the recently passed GENIUS Act. While the bill established a framework for stablecoins, Hoskinson blasted it as a handout to traditional finance incumbents.
He argued the legislation favors entities like BlackRock, Goldman Sachs, and Cantor Fitzgerald while sidelining decentralized protocols and retail investors. “It centralizes the industry,” Hoskinson noted, claiming the administration handed “the keys to the crypto kingdom” to Wall Street rather than fostering open innovation.
The Meme Coin Distraction
Compounding the regulatory stalled front, Hoskinson pointed to the "Official Trump" memecoin launch as a "catastrophic" distraction. He accused Sacks of failing to shield the President from ventures that drain liquidity and invite political attacks, arguing these stunts provide ammunition for anti-crypto legislators to dismantle the very bills Sacks is tasked with passing.
