Hoskinson Down $3B in ‘Red Days’ Rout; Refuses to Sell
Cardano’s founder reveals staggering $3B paper losses in a Tokyo livestream, doubling down on his ‘diamond hands’ stance as ADA clings to $0.25.
Cardano founder Charles Hoskinson revealed over $3 billion in unrealized losses during a Thursday livestream from Tokyo, disclosing the personal toll of a market rout that has dragged ADA to $0.25.
Speaking in a broadcast titled Red Days, Hoskinson directly addressed the ‘founder privilege’ narrative, stating he has taken a heavier hit than any retail holder listening. “I’ve lost more money than anyone listening to this,” Hoskinson said. “It would have been real easy to cash out.”
The $3 Billion Paper Cut
The disclosure comes as ADA trades 92% below its 2021 all-time high of ~$3.10. While the token struggled to hold the $0.25 support (-2.7% in 24h), Hoskinson framed his refusal to exit as a necessary alignment with the protocol’s long-term roadmap.
“Do you think I honestly care if I lose it all? Do you think I’m doing this for money? You’re pretty mistaken if you do.”
Hoskinson explicitly rejected the option to liquidate, citing his clean track record against industry scandals like FTX or the Jeffrey Epstein saga as evidence of his conviction. The comments aim to counter growing sentiment that wealthy founders remain insulated while retail investors capitulate.
Development vs. Price Action
Despite the drawdown, Hoskinson used the Tokyo stream to highlight the roadmap, specifically the Hydra scaling solution, the Leios consensus upgrade, and the privacy-focused Midnight sidechain. He also referenced “Starstream,” a planned zero-knowledge virtual machine (zkVM).
The market response remains muted. Volume across major exchanges has dried up, with ADA’s market cap hovering near $9.6 billion, a fraction of its peak valuation. Hoskinson warned that “more red days” could lie ahead, describing 2026 not as a bull run, but as a “fundamental reset” for utility over speculation.
