Hoskinson Claims $3B Unrealized Loss; ADA Clings to $0.25

Cardano founder Charles Hoskinson stated he is sitting on over $3 billion in unrealized losses following the recent market collapse, telling a Tokyo livestream audience that he refuses to liquidate his position despite ADA falling 92% from its all-time high.

The revelation comes as the crypto market endures what Hoskinson termed "Red Days," with Cardano (ADA) sliding to $0.25 this week. Levels not seen since the pre-2021 bull run. While Bitcoin struggles to reclaim $66,000 (down ~50% from its October peak), Hoskinson’s commentary highlights the extreme leverage flush hitting even the industry’s wealthiest founders.

The "Paper Loss" Defense

Speaking candidly from Japan, Hoskinson framed his personal drawdown as a necessary alignment with the community’s pain. He pushed back against the narrative that protocol founders are insulated from the volatility decimating retail portfolios.

"I've lost more money than anyone listening to this. Over $3 billion now. It would've been real easy to cash out, just walk away. Do you think I honestly care if I lose it all?"

This $3 billion figure represents paper valuation lost during the slide from the 2021 peak of $3.10 and the more recent 2025 highs. Hoskinson cited his refusal to sell as proof of conviction in the network’s long-term roadmap, specifically pointing to the upcoming Midnight privacy sidechain and Hydra scaling updates as critical infrastructure that survives price action.

Market Context: The 2026 Reset

The disclosure lands during a brutal liquidity contraction. The CoinDesk 20 Index fell 17% this week, signaling a risk-off regime change that has punished older altcoins severely. ADA’s drop to the mid-$0.20s threatens a breakdown of multi-year support structures.

For market makers, Hoskinson’s "diamond hand" stance offers a double-edged signal: it removes the immediate threat of a founder-led dump, but it underscores the massive concentration of supply still held in legacy wallets. The market response has been tepid; ADA volume remains suppressed, suggesting that while the founder isn't selling, new institutional capital isn't buying the dip either.

Hoskinson warned the rout isn't over, predicting the market could get "redder" before utility-driven assets decouple from speculative tokens. "I'll be with you on the red days and the green days," he noted, effectively telling the Cardano faithful to brace for a prolonged accumulation phase.