Cardano’s Hoskinson unlikely to donate crypto to Ukraine for this reason

ambcrypto.com:

Crypto projects, stakeholders, and founders have all made a splash after Ukraine asked for crypto donations to help it resist Russia’s invasion. The numbers speak for themselves as more than $24 million in crypto has reportedly reached the country.

Now, the Cardano community is feeling the pressure to donate. As is usually the case, founder Charles Hoskinson put out a video to explain his point of view.

Hoskinson acknowledged that others – like Polkadot founder Gavin Wood – had donated to Ukraine, but made it clear that he was not about to drop a few million in ADA any time soon.

In particular, Hoskinson pointed out that he wasn’t sure whether the donations would only be used for citizen welfare or controlled by a “puppet regime” in the future. He also mentioned it was easier to teach a man to fish than to give him fish. Hoskinson warned,

“Given the nature of cryptocurrencies, it’s entirely possible [that] if the Ukrainian government is invaded, for the wallets that hold those funds in Kiev to just basically disappear and people will assert that the keys have been lost or the people who knew them are dead, and in reality they actually were stolen.”

Hoskinson instead suggested that the Cardano community could donate to help Ukrainian refugees in other countries.

All said and done, Hoskinson’s comments do raise the question of whether or not an ADA donation would be useful to Ukraine.

At press time, Cardano’s ADA was the ninth biggest coin by market cap, trading at $0.8808. The coin fell by 4.06% in the last 24 hours but rose by 5.06% in the last week.

Data from Santiment shows that both ADA’s price and active address count have been falling for some time now. However, active addresses did see a mild increase when compared to the