Founder of Cardano Refutes El Salvador Proposal Due to Connections with Gangs

Charles Hoskinson, the founder of Cardano, recently revealed that he declined a proposal to establish Cardano in El Salvador in 2021 due to concerns about the government's plan to airdrop cryptocurrency to its citizens, including members of the infamous MS-13 gang. He described a disorganized government and a lack of clear guidelines for adopting cryptocurrency. The main issue arose during discussions with U.S. consultants.

Hoskinson claimed that President Nayib Bukele's intention for a universal airdrop could potentially channel cryptocurrency to MS-13, which is recognized as a Transnational Criminal Organization by the U.S. Office of Foreign Assets Control (OFAC). Despite Cardano's withdrawal, El Salvador proceeded to make Bitcoin legal tender and launched the government-supported Chivo wallet. Despite skepticism about Hoskinson's claims, Cardano's ADA token has shown modest resilience.