Charles Hoskinson reveals unrealized losses of over $3 billion during the downturn

Charles Hoskinson, the founder of Cardano (ADA), announced that he is experiencing over $3 billion in unrealized losses amid the crypto market downturn, providing rare insight into his personal financial exposure during this sharp price decline.

Speaking live from Tokyo, Hoskinson mentioned that the market is shaken by forced liquidations and plunging prices. Over the past week, Bitcoin dropped to around $60,000, losing about 16% of its value, while ADA also declined 15.6% during the same period.

Hoskinson stated that he disclosed this figure to counter the view that crypto founders are immune to the losses faced by individual investors. According to him, his financial position has been more heavily impacted than most market followers.

“I’ve lost more money than anyone listening to this — over $3 billion. I could easily take profits and walk away,” Hoskinson said.

He also emphasized that he doesn’t mind if his investment continues to decrease, believing that always saying “no” to compromises is why he has avoided scandals in the industry.

In his speech, Hoskinson reaffirmed his long-term vision of building the ecosystem rather than focusing on short-term price volatility. He views the current downturn as part of a longer cycle, not a breaking point.

Hoskinson believes “every step forward on this difficult path” is progress, and he affirmed his long-term commitment to the field.

He also mentioned that he has no plans to exit his current positions, viewing the sell-off as a transitional phase as the financial system adapts to new technology.

For example, Hoskinson referenced projects within the Cardano ecosystem such as Starstream and Midnight, designed for applications emphasizing data integrity and privacy.