• Hoskinson called Libra a global awakening for politicians.
  • Hoskinson feels that Facebook lacks the relationships needed to promote Libra.

During a recent interview with Financial Fox, Charles Hoskinson, the Cardano founder, said that Facebook's Libra might be the "Sputnik moment" for regulatory bodies.

"Sputnik was a wake-up call for America. We [Americans] had this vision that we were [technologically] always super ahead of the Soviets. Libra is doing the same thing. It's a global awakening and it's telling global politicians that this [existing] financial order they're used to is ending."

However, he feels that Cardano will end up prevailing over Libra. In a separate conversation with Finance Magnates, Hoskinson said that emerging markets are the future:

"Emerging markets are where cryptocurrencies matter [...] When I look at the developed world, I don't care. It's highly regulated and, in many cases, a rigged system. If I decide to compete with a tech company they can just push me out via regulation. [...] Then I sit down with the prime minister of Georgia and he says, 'we're open for business.' We can rebuild parts of their education infrastructure, create a new payments system or do a medical records system. The keys to the kingdom are right there. That's 4 million people who in ten or twenty years will be very high-value users."

However, Hoskinson feels that Facebook lacks the relationships needed to promote Libra. These relationships need to be built over time and have to be based on tangible benefits specific to the emerging markets:

"Facebook has to come into countries it doesn't know a lot about and convince them to enslave themselves to an economic monopoly and give nothing in return. And their only pitch is that you'll pay less on fees. [...] I'm going there and saying, 'we're going to rebuild all your systems so you have fraud-free land registration, better voting systems and improved supply chains.' We're already doing this stuff but it took years. These are relationship-based markets – and Facebook doesn't have those relationships."

ADA/USD daily chart

fxsoriginal

ADA/USD is trending in a flag formation getting primed for a potential breakout. The latest price has fallen from $0.0606 to $0.0591 in the early hours of Tuesday. The 20-day simple moving average (SMA 20) curve has taken a dip and is acting as immediate market resistance. The SMA 50 and SMA 200 curves are both trending above the daily price chart.


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

Lido Price Forecast: LDO eyes further gains as BitGo enables native ETH staking via Lido

Lido Price Forecast: LDO eyes further gains as BitGo enables native ETH staking via Lido

Lido DAO (LDO) edges higher by over 5% at press time on Friday, extending its five consecutive days in the green. LDO gains momentum following BitGo's announcement on Thursday of native Ethereum (ETH) staking via Lido for its institutional clients.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC nears all-time high, ETH eyes $4,000, XRP sets new record

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC nears all-time high, ETH eyes $4,000, XRP sets new record

Bitcoin (BTC) price is trading above $120,000 on Friday, inching closer to its all-time high of $123,218. Ethereum (ETH) price has surged by over 20% so far this week, with bulls aiming for the $4,000 level next.

Top Crypto Gainers: Hedera, Flare, Ripple – HBAR, FLR, XRP make waves with double-digit gains

Top Crypto Gainers: Hedera, Flare, Ripple – HBAR, FLR, XRP make waves with double-digit gains

Hedera (HBAR), Flare (FLR), and Ripple (XRP) continue to extend their double-digit gains from Thursday, outperforming the broader market over the last 24 hours. The surge in altcoins aligns with Bitcoin (BTC) reclaiming the $120,000 level and an improvement in broader market sentiment.

Trump to introduce crypto to $9 trillion retirement market: Financial Times

Trump to introduce crypto to $9 trillion retirement market: Financial Times

US President Donald Trump is preparing to sign an executive order allowing 401(k) accounts to invest in cryptocurrencies as part of their retirement plans, the Financial Times reported on Thursday.

Bitcoin: BTC sets sight on fresh all-time highs after US passes key crypto bills

Bitcoin: BTC sets sight on fresh all-time highs after US passes key crypto bills

Bitcoin (BTC) posted a strong performance this week, hitting a new all-time high of $123,218 to start the week before consolidating around $118,000 as of Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP