Cardano Founder Says He Never Promised ADA Would Rise, as ADA is Down 95%

Cardano founder Charles Hoskinson has a message for ADA holders, he never promised to make the token rise. While ADA has lost nearly 95% from its 2021 peak, leaving investors waiting for a recovery. 

Hoskinson says his job was never to pump ADA’s price, it was to build and decentralize Cardano, and that’s done.

“I Never Promised Something Like That”

During a 7 November livestream, Hoskinson responded to a viewer who brought up his earlier comments about Cardano possibly becoming the biggest cryptocurrency. 

“I never promised that. I said I’d love for it to happen, and I believe that Cardano is a better store of value than Bitcoin is for a variety of reasons.”

He explained that saying something could happen is not the same as promising it.

Also, “I don’t promise price appreciation, or people overturning things. I say it’s absolutely possible.

Hoskinson made it clear that he sees potential for Cardano but does not guarantee higher prices or a bigger market position for ADA.

Meanwhile, ADA has fallen from its 2021 all-time high of $3.099 to around $0.1636, a drop of 94.72%.

“You Want Me to Pump Your Bags”

The discussion became more direct when Hoskinson addressed investors who expected him to keep supporting ADA’s price.

“So you tell me you want me to pump your bags, and if I don’t, I’m a scammer.”

Hoskinson explained that this expectation would never end. If someone buys ADA at $3 and expects $5, the next investor may buy at $5 and expect $7. 

If you stop at five, you cheat the person who bought at five. If you stop at three, you cheat the person who bought at three. 

There is no way to win, investors will still accuse him of failing them. 

Hoskinson: Cardano’s Roadmap is Complete

At last, Hoskinson said his main responsibility was not to keep ADA’s price rising but to build the network and make it independent. He said Cardano’s “roadmap is complete,” with planned upgrades having been delivered.

Cardano’s development followed five stages, including Byron, Shelley, Goguen, Basho, and Voltaire. Each upgrade added staking, smart contracts, and better network performance. 

The final upgrades gave ADA holders voting rights, with the Plomin hard fork completing the shift to community-led governance in January 2025.

“My job was to build it and decentralize it, I have no power over this ecosystem.”

He added that Cardano is now self-governing and can choose its own leaders without his approval.