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

Charles Hoskinson, the founder of Cardano, recently addressed misleading headlines suggesting he blamed ADA users for the network's decentralized finance issues. In a video released on November 3, he clarified that his comments were misinterpreted, emphasizing a structural mismatch in participation within the ecosystem.

Animoca Brands is setting its sights on the public market with an ambitious goal of providing cryptocurrency access to billions of people. This initiative aims to democratize digital assets and expand the reach of blockchain technology, making it more accessible to everyone.

GrantiX is revolutionizing the impact-investing landscape by bringing a staggering $1.57 trillion market on-chain through its innovative AI-powered SocialFi platform. This advancement aims to enhance transparency and accessibility in investments that prioritize social and environmental benefits.

Ripple's U.S. dollar stablecoin has reached an impressive $1 billion milestone, showcasing its rapid growth and adoption. The company's president shared insights on their merger and acquisition strategy, emphasizing how it will further fuel their expansion in the global payments network.

Adena Friedman, the CEO of Nasdaq, highlights three significant ways blockchain technology can enhance the finance sector. She emphasizes the importance of streamlining post-trade processes, improving collateral mobility, and facilitating better payment systems.

The SUI token has experienced a significant decline as a $116 million DeFi exploit has shaken the crypto markets. With traders offloading their assets, the token broke through key support levels and saw a trading volume that was 68% above average.

UBS has successfully completed its first live transaction for a tokenized money market fund using Chainlink's technology on the Ethereum blockchain. This innovative approach allows for direct processing of subscription and redemption orders, marking a significant step in the evolution of fund management. By bringing fund redemptions on-chain, UBS is not only enhancing efficiency but also setting a precedent for the future of financial transactions, which could lead to greater transparency and accessibility in the investment landscape.

This week, the crypto world faced a setback as Moonwell DeFi lost $1 million due to a flaw in Chainlink, following a significant hack that drained over $128 million from various DeFi protocols. The recent events have left investors cautious, contributing to a slump in crypto prices, including the WELL token, which has hit its lowest point since 2025.

Charles Hoskinson, the founder of Cardano, recently addressed misleading headlines suggesting he blamed ADA users for the network's decentralized finance issues. In a video released on November 3, he clarified that his comments were misinterpreted, emphasizing a structural mismatch in participation within the ecosystem.

Bitcoin is at a crucial point as China has decided to suspend a 24% tariff on U.S. goods. This move could potentially boost the cryptocurrency market, providing a favorable environment for Bitcoin to thrive.

Solana's price has dropped significantly, falling below the $165 mark and now trading around $150. The bearish trend suggests further declines could occur unless bulls step in to defend these critical support levels.

Microsoft has shared insights on the challenges facing AI development, particularly focusing on the availability of power in data centers. As AI technology continues to advance, ensuring sufficient energy supply becomes crucial for sustaining operations and innovation.

Ethereum's price has been struggling recently, falling below $4,000 due to bearish trends influenced by Bitcoin's decline. Analysts are predicting a potential breakdown, with some suggesting a recovery followed by a crash. The outlook remains grim as the second-largest cryptocurrency faces increasing pressure.

The recent NYC election has seen significant financial losses for those betting against candidate Mamdani, with Polymarket contracts dropping nearly $1 million. This downturn highlights the unpredictable nature of political betting and the risks involved.