Main navigation

Charles Hoskinson Gets Mocked for Using His Private Jet Too Much, Here's His Answer

Tue, 05/09/2023 - 08:55
article image
Arman Shirinyan
Charles Hoskinson feeling comfortable in his private jet while ADA loses 20% in last 20 days
Charles Hoskinson Gets Mocked for Using His Private Jet Too Much, Here's His Answer
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Charles Hoskinson, the founder of Cardano (ADA), has recently come under fire for his frequent use of his private jet. With more than 353 flights in a single year, critics argue that Hoskinson is burning more fuel than celebrities like Ken Griffin, Mark Zuckerberg, Mark Cuban and Jay-Z. However, Hoskinson was quick to respond to the criticism, pointing out that the numbers are not entirely accurate.

In his response, Hoskinson clarified that the count does not differentiate between his personal use of the private jet and charters. He also questioned the intent behind the list, adding that he is close to figuring out how to make flying private more profitable. In May 2021, he stated that he would only fly private if he could find a way to make more money doing it than spending on it, and he believes he has almost "cracked that code."

However, some users have continued to criticize Hoskinson, suggesting that his spending on private flights is unnecessary given Cardano's poor market performance. They argue that the platform is falling behind competitors like Ethereum and Solana, which is backed up by the fact that ADA has been in a local downtrend for more than two months, losing around 20% of its value.

Cardano (ADA) Price Analysis for May 7

Despite Hoskinson's defense of his private jet use, the debate raises questions about the priorities of prominent figures in the cryptocurrency world. As Cardano struggles to regain its footing on the market, Hoskinson's critics argue that focusing on personal luxuries might not be the best use of resources.

On the other hand, Hoskinson's supporters emphasize that his travel habits are not directly tied to Cardano's performance and that his contributions to the project should be judged on their own merits.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.