Cardano blockchain platform founder Charles Hoskinson has issued a direct and unequivocal denial of rumors about his possible departure from the project. In a video message published this week, he called such claims absolute fiction and categorically refuted any insinuations.
According to Hoskinson, the authors of clickbait fake videos use quotes taken out of context and create emotional clips to collect likes. They baselessly claim that the founder considers Cardano a failed project. Notably, the disinformation has spread not only online but also in real life.
Disinformation reaches taxi drivers and top executives
Hoskinson gave a striking example: one London taxi driver, he said, was seriously telling passengers about an imminent change in the project's leadership. A similar situation arose among representatives of partner companies—false information even reached the level of CEOs at major organizations. "This is categorically untrue. This is a complete lie. This is a fabrication from start to finish," the Cardano founder emphasized.
In response to the wave of rumors, Hoskinson urged project supporters to share his video with those repeating these claims. According to him, the clip clearly confirms his active involvement in the ecosystem's development.
A challenging period for Cardano
The denial came during a rather difficult period for the project. As of today, the ADA price is under significant pressure. The coin is trading around $0.16, approximately 94% below its all-time high of $3.09 in 2021.
The network has also faced a governance crisis. Investor Justin Bons called for Hoskinson to step down, which sparked a strong reaction from the community. However, not all news was negative: this month has seen an increase in the number of Cardano wallets, despite ADA failing to hold above local lows. Hoskinson himself proposed a governance reform to restore trust in the project.
General state of the altcoin market
Cardano's issues reflect the broader stagnation in the alternative cryptocurrency segment. The altcoin sector still cannot break free from the total influence of the market's flagship. Bitcoin's dominance remains stable at around 58%, testing an important support level formed back in August 2025.
The popular Altcoin Season Index currently stands at 45. For a full trend reversal, this indicator needs to exceed the 75-point threshold. 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. For a full-fledged start of a new altcoin season, the first cryptocurrency's dominance index must drop below the 55.5% mark.
My analysis: The rumors about Hoskinson's departure are a classic example of FUD, actively used to manipulate the market amid ADA's weak price performance. While fundamental network metrics, such as the growth in wallet numbers, provide cautious grounds for optimism, for a trend reversal, Cardano needs not only a strong altseason but also tangible results from the proposed governance reforms.