Cardano Founder Reveals Who Is To Blame For ADA’s DeFi Decline

Cardano has recently experienced a decline in its price, falling below $0.57, which has raised concerns about the network's activity and investor confidence (F1). In response to the downturn in decentralized finance (DeFi) activity on the platform, Cardano co-founder Charles Hoskinson was initially reported to have blamed the community for this decline (F2). However, Hoskinson later clarified that these claims misrepresented his views and that he did not intend to place blame on the community (F3). This clarification indicates that while there was initial attribution of responsibility to the community, Hoskinson sought to correct the narrative and provide a more nuanced perspective. The situation highlights ongoing challenges faced by Cardano in maintaining DeFi engagement amid market fluctuations. Overall, the episode underscores the sensitivity around public statements in the cryptocurrency space and the importance of accurate communication from key figures.