BitMEX CEO Arthur Hayes Blasts Cardano on X, Prompting Hoskinson to React

Juhi Mirza
image of an explosion
Image source: Unsplash

In a new development on X, BitMEX’s CEO Arthur Hayes shared his “explosive” views on Cardano. Venting it out on X, Hayes openly criticized Cardano, dubbing ADA a dog sh*t crypto token. 

Hayes further went ahead, claiming that Cardano is a token lacking utility, prompting its founder, Charles Hoskinson, to respond to his claims. 

Also Read: Cardano Weekly Price: ADA Eyes $1

Hayes vs. Hoskinson Banter Fuels on X 

The world of cryptocurrency is rarely dormant. This fact was proven by BitMEX’s CEO, Arthur Hayes, who took to Twitter to outline his stance on Cardano. 

Hayes, who is otherwise known as a staunch Bitcoin proponent, criticized Cardano on X, claiming that the token lacks utility. He further went on to refer to ADA as a dog sh*t meme coin, sparking a flurry of responses on X. 

To further support his explanation, Hayes listed significant DApps within the crypto space. He later challenged ADA enthusiasts to recognize any DApp that has been deployed in Cardano. 

“For all you $ADA believers, what dAPP on this list originally launched on Cardano, or has a Cardano offering that is heavily used? From my very limited knowledge, it looks like none of them do.” Hayes tweeted. 

Hoskinson Responds to Hayes ADA Dog Sh*t Claims

Source: CryptoSlate

Hayes’ explosive comments have prompted Charles Hoskinson, Cardano’s founder, to respond to his claims. 

Hoskinson urged Hayes to explain his “unfair analysis of Cardano.” He later shared how he has always been a fan of Arthur Hayes and that the harsh ADA criticism has taken him by surprise. 

Also Read: Cardano: ChatGPT Predicts When ADA Could Hit $10

In the midst of all this, Cardano community members have stepped forward to defend the ADA’s stance. Liqwid Labs, a non-custodial liquid staking protocol, responded to Hayes’s claims, outlining their utilitarian purpose on Cardano. 

Minswap Labs, a DEX on Cardano, also contested Hayes’s controversial claims.