Cardano’s founder, Charles Hoskinson, is furious with the United States Agency for International Development (USAID). He accuses them of funding a book that links Bitcoin to right-wing extremism. Hoskinson calls the whole situation “garbage.”
USAID Under Fire
This controversy comes amidst budget cuts at USAID under the current administration. Many projects are facing funding cuts, threatening thousands of jobs. But the Bitcoin book issue adds another layer of criticism.
The Controversial Book
The problem stems from a book titled “The Politics of Bitcoin: Software as Right-Wing Extremism,” written by David Golumbia. WikiLeaks revealed Golumbia received roughly $80,000 in government grants. Another book by the same author, “Cyberlibertarianism: The Right Wing Politics of Digital Technology,” also allegedly received USAID funding. These books are even on reading lists at some universities, like Duke and USC. This has raised questions about whether these institutions properly vetted the books’ claims.
Hoskinson’s Counterargument
Hoskinson strongly defends Bitcoin, arguing it’s a decentralized financial system unrelated to any specific political ideology. He believes the book’s claims are a smear campaign, designed to paint Bitcoin as a tool for right-wing extremism. He’s not alone; many in the crypto community argue this is propaganda that ignores Bitcoin’s potential for economic freedom and financial inclusion. They see it as an attack on the benefits of decentralized technology.
Bitcoin’s Price Remains Unsettled
Meanwhile, Bitcoin’s price continues to fluctuate around $100,000. Despite the political noise and ongoing regulatory changes, it’s holding relatively steady. The market seems to be waiting for a catalyst to push it past the $100,000 mark. Globally, countries are actively working on crypto regulations and exploring the creation of crypto reserves, with Japan recently announcing changes to classify crypto assets as financial products.
