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Charles Hoskinson Wins $50,000 on Alonzo Bet, Urges Polymarket to Donate Win to Kids Cancer Charity

Mon, 09/13/2021 - 08:37
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Yuri Molchan
Cardano chief has won $50,000 on the smart contract bet with Polymarket and has chosen a charity for children suffering from cancer where the winnings will be donated
Charles Hoskinson Wins $50,000 on Alonzo Bet, Urges Polymarket to Donate Win to Kids Cancer Charity
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On Sunday, Sept. 12, the long-anticipated Alonzo hard fork was launched on Cardano and enabled the smart contracts feature on this proof of stake (PoS) blockchain.

The CEO of Input Output Global and founder of Cardano Charles Hoskinson has announced that he has won a $50,000 bet from the Polymarket team, a prediction market platform. The team bet that Cardano would not release the smart contracts feature before Oct. 1. Now, Hoskinson has picked a charity where Polymarket should donate the money.

Cardano-won cash will head to a kids' cancer charity

Hoskinson has taken to Twitter to remind the Polymarket team that they will now have to donate $50,000 to the charity he picks after the smart contracts feature goes live.

Hoskinson's choice fell on a "small [charity] with a really good heart," a project called Magic Yarn. The website states that it is an initiative that helps children suffering from cancer and is based in Palmer, Alaska. The project makes wigs for kids who lose their hair due to chemotherapy.

The bet was offered by Polymarket on July 15. The company also offered to bet on or against Cardano launching smart contracts before Oct. 1 on its prediction market platform.

Elon Musk Sends Dogecoin Offshoot Soaring with Photo of His Dog

ADA plunges 13% despite Alonzo launch

Earlier today, the native currency of Cardano, third-ranked ADA, demonstrated a drop of 13% from the $2.60 level instead of the expected substantial rise.

The coin is changing hands at $2.34 at press time.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at