Algorithmic Stablecoins Are More Suitable For The Crypto Industry: Charles Hoskinson

• According to Charles Hoskinson, algorithmic stablecoins are more suitable for the crypto industry.
• The Cardano founder thinks asset-backed stablecoins should not be classified as cryptocurrencies.
• Hoskinson believes the recently approved ETFs in the U.S. have further centralized the crypto industry.

According to Cardano founder Charles Hoskinson,  algorithmic stablecoins are more suitable for the crypto industry. Hoskinson made the statement during an interview with the Discover Crypto crew while responding to questions about some stakeholders in the crypto ecosystem refusing to associate with the project. 

Hoskinson noted that Cardano’s uprightness may be why some projects and practitioners resent it. According to him, Cardano is scary because they did everything right, including growing without taking funds from Venture Capitalists (VCs). 

Speaking about not having USDC on the Cardano network, Hoskinson said he does approve of asset-backed stablecoins. According to him, they are a category of digital assets that should not be classified as cryptocurrencies. He explained that despite stablecoins reflecting 80-90% of the money velocity and transactions o…

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