Founder Charles Hoskinson says he faces more than $3 billion in unrealized losses during the current cryptocurrency market downturn, a rare look at his personal exposure during the steep decline.
Hoskinson delivered an encouraging message during a live broadcast from Tokyo, where he addressed markets rocked by forced liquidations and falling prices. Bitcoin It fell to around $60,000 this week, losing about 16% of its value, while the broader CoinDesk 20 (CD20) index fell 17%. It fell 15.6% this week.
Hoskinson said he shared the figure to counter claims that cryptocurrency founders were immune to retail investor losses. He told the audience that his finances have been hit harder than most people who follow the markets.
“I’ve lost more money than anyone listening to this. It’s over $3 billion now. It’s really easy to cash out, just walk away,” Hoskinson said.
“Do you think I really care if I lose everything? There’s a reason I’m not in the Epstein dossier, there’s a reason I’m not involved in FTX,” he added. “Not because no one likes me, but because my default answer is no. I don’t care if I lose money, I don’t care if it means I’m going to be put on a kid’s desk, I’m not going to the White House and all that other stuff.”
In his speech, Hoskinson emphasized building for the long-term growth of the ecosystem rather than focusing on short-term price movements.
Compare a recession as part of a longer cycle rather than a turning point. Hoskinson added that “every foot forward on that difficult road” is progress, adding that he has “been here my whole life and this is who I am and always will be.”
He also said he has no plans to step down from his position. Instead, he described the sell-off as a transition period for the financial system to adapt to new technologies.
For example, he mentioned Cardano-based projects like Starstream and Midnight, which he said were designed for data integrity and privacy-focused applications.