This week, Cardano founder Charles Hoskinson issued a direct and unequivocal denial of rumors about his possible departure from the project. In a published video address, he called such claims not just a mistake, but targeted disinformation with no basis in reality.
According to Hoskinson, creators of clickbait videos and fake news use quotes taken out of context and produce emotional clips solely to collect likes and views. They baselessly claim that the Cardano creator considers his own project a failure. The situation has extended far beyond the internet: Hoskinson said that even a London taxi driver was seriously discussing with passengers an imminent change in the project's leadership. Moreover, similar disinformation has reached the CEOs of major partner organizations.
"That is categorically untrue. That is a complete lie. That is a fabrication from start to finish," Hoskinson stated, urging supporters to actively share his video with those spreading these rumors. He emphasized that the recording clearly confirms his full involvement in the development of the ecosystem.
A challenging period for Cardano
The denial came at an extremely tense time for the project. At the time of writing, the ADA price is under serious pressure, trading around $0.16. This is approximately 94% below the 2021 all-time high of $3.09.
Beyond price dynamics, the network has faced a governance crisis. Well-known investor Justin Bons publicly called for Hoskinson to step down, which provoked a strong reaction from the community. However, there have also been positive signals: this month has seen steady growth in the number of Cardano wallets, despite ADA failing to hold above local lows. Hoskinson himself has also proposed a governance reform aimed at restoring trust in the project.
General state of the altcoin market
Cardano's problems are just part of the broader picture of stagnation in the alternative cryptocurrency segment. Bitcoin dominance remains steady at around 58%, testing an important support level formed back in August 2025. The altcoin season index is currently at 45 points, while it needs to exceed 75 points for a full trend reversal. The fear and greed index continues to indicate a predominance of panic among investors.
For most of 2026, major financial flows have been concentrated exclusively in Bitcoin and Ethereum. According to leading analysts, for a new altcoin season to begin, the dominance index of the first cryptocurrency must drop below 55.5%.
Analyst comment: Rumors of Hoskinson's departure are a classic example of FUD, which is actively spread during a bear market. However, given ADA's critical 94% drop from its ATH and the overall weakness of altcoins, the founder needs not only to deny rumors but also to propose specific growth catalysts. Governance reform is a step in the right direction, but the market needs more substantial drivers for a reversal.