Cardano founder Charles Hoskinson has criticized crypto media for spreading misinformation, relying on AI-generated content, and failing to fact-check properly. His frustration grew after a false news report linked him to a memecoin using his name, causing confusion in the community.
Memecoin Confusion
A crypto news outlet incorrectly reported that Hoskinson promised exclusive content to holders of the Official Charles Memecoin as compensation for their losses. However, Hoskinson has no connection to this project and had already distanced himself from it.
The memecoin, created by an anonymous user, tried to appear legitimate by sending 90% of its supply to a wallet Hoskinson once showcased in a live stream. But Hoskinson quickly burned the tokens, making it clear he wanted nothing to do with the project. This move caused the memecoin’s value to crash, with its market cap dropping from $70 million to under $300,000 as investors rushed to sell.
The Real CHARLES Token
The media mix-up happened because the news outlet confused the Official Charles Memecoin with The CHARLES Media Token—a real project created by Hoskinson and Book.io. Unlike the speculative memecoin, The CHARLES Token is tied to a 90-minute blockchain-based interview with Hoskinson.
The mistake came from poor reporting, as the news outlet failed to verify contract addresses before publishing. This caused unnecessary confusion among traders and Cardano supporters.
Hoskinson’s Frustration with Crypto Journalism
Hoskinson used this incident to call out the crypto media for prioritizing speed over accuracy, relying on AI-generated content, and neglecting proper fact-checking. He stressed that misinformation in crypto can mislead investors and harm the industry, urging journalists to uphold better standards when reporting.
