Charles Hoskinson

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Cardano's ADA token has dropped to around 16 cents, its lowest level since December 2020. The decline followed comments from founder Charles Hoskinson and project setbacks. Social media attention and on-chain activity have increased sharply during the selloff.

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Charles Hoskinson, the founder of Cardano, has suggested a possible split of the blockchain through a proof-of-burn mechanism following the planned shutdown of TapTools, a key analytics platform in the ecosystem.

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