Cardano founder Charles Hoskinson says he lost over $3B but will not cash out

Cardano founder Charles Hoskinson said he has suffered more than $3 billion in unrealized crypto losses but declined to liquidate his holdings, calling for steadiness and long‑term commitment in the face of the downturn ^[1][3][4].

Speaking in a public livestream from Tokyo, Hoskinson warned the market slump could worsen—saying “it’ll get worse. it’ll get redder.”—and sought to steady market sentiment by arguing that short‑term price pain does not invalidate the long‑term case for blockchain‑based financial systems ^[2].

Crypto coverage noted Hoskinson’s remarks as an example of a founder maintaining conviction despite large paper losses and emphasized his framing of integrity and long‑term vision as central to navigating volatile markets ^[1][4].

Hoskinson’s statements came during a broader sell‑off in which other industry figures also reported multibillion‑dollar paper losses, underscoring the depth of the market decline and differing responses among crypto founders ^[4].