Cardano founder Charles Hoskinson has officially denied rumors of his possible departure from the project, calling them “absolute fiction” and “complete lies.”
According to Hoskinson, the fake news stemmed from out-of-context snippets of old videos and clickbait headlines that baselessly claimed the founder considers Cardano (ADA) a failed project.
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The denial comes at a difficult time for the ecosystem. ADA▲$0.1791 is trading around $0.16–roughly 94% below its 2021 all-time high. The network is also facing a governance crisis following EMURGO’s exit from the Cardano Pentad and investor Justin Bons’ calls for Hoskinson to step down, which sparked a sharp community reaction.
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How the Hoskinson Rumors Spread to the CEO Level
Hoskinson said the misinformation spread far beyond the internet. One London taxi driver, he said, was seriously telling passengers about an impending leadership change. Partner company representatives encountered similar misinformation, with false claims reaching even the CEO level of major organizations.
“It is categorically untrue. It’s a complete lie. It’s a complete fabrication,” Hoskinson emphasized. He asked supporters to share his video with anyone repeating the rumors.
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How ADA Price Is Moving on July 10
At the time of publication, Cardano’s token trades at roughly $0.16. Over seven days, the altcoin has risen about 1%, and over 14 days, it’s up 14%.
The number of Cardano wallets has grown this month, though ADA has failed to hold above local lows. Hoskinson also proposed governance reforms to restore trust in the project.
Read more: Cardano Price Forecast: ADA Is Making a Summer Comeback — Can It Finally Break Out in 2026?
What’s Happening in the Altcoin Market in July 2026
Cardano’s troubles reflect the broader stagnation of the alternative crypto segment. Altcoins still can’t shake bitcoin’s overwhelming dominance.
Bitcoin (BTC) dominance has held steady around 58%, testing a key support level formed back in August 2025. The Altcoin Season Index sits at 45–a full trend reversal would require that figure to top 75 points.
The overall Crypto Fear and Greed Index continues to show panic-driven sentiment. Analysts say a new altseason would require bitcoin dominance to drop below 55.5%.
Learn more: Top Cardano Developments in 2026 — Is ADA Finally Breaking Out?
