Cardano’s native token ADA has surged to its highest level since March 2024 following news that founder Charles Hoskinson will be involved in shaping cryptocurrency policy in the United States. The digital asset’s value surged more than 100% to $0.66 before falling to $0.58 at press time.
Hoskinson, who is best known for his role in the development of Ethereum before founding Cardano, has expressed his intention to become an active policy advisor on cryptocurrencies when Donald Trump takes office in 2025. In a video, he shared: “A lot of my time in 2025 will also be spent on the political process.”
While he has not yet taken an official position, the Trump campaign has shown a willingness to listen to industry leaders to develop regulatory policies for cryptocurrencies.
Hoskinson recently announced a new strategy for Cardano, calling it a second-layer platform for Bitcoin. The system is designed to leverage Bitcoin’s proven security and liquidity while allowing for faster transaction processing. Cardano is making significant technological progress with the development of a new partner chain called “Midnight,” which is expected to launch next year, Input Output Global CTO Romain Pellerin said at the Bangkok Staking Summit.
Read more: Changpeng Zhao Perspective on FTX Two Years After Its Collapse
The Midnight blockchain will offer enhanced privacy and selective disclosure features, reinforced by Cardano’s stake pool operators. As in Cardano’s proof-of-stake system, stake pool operators—who play a key role in the consensus mechanism—will be rewarded with $Night tokens, which are tied to the governance structure of the Cardano network.
