Cardano founder Charles Hoskinson has sharply criticized the U.S. Agency for International Development (USAID) for allegedly funding a book that links Bitcoin to right-wing extremism. Hoskinson expressed his frustration on social media, calling the portrayal of Bitcoin “garbage” and accusing USAID of spreading misinformation.
Allegations and Funding Details
The controversy stems from the book Cyberlibertarianism: The Right-Wing Politics of Digital Technology, authored by David Golumbia. The book connects Bitcoin and cyberlibertarianism to right-wing political ideologies. WikiLeaks recently revealed that Golumbia had received at least $80,000 in direct grants from USAID to support his work. The book has been included in the reading lists of several academic institutions, such as the University of Southern California and Duke University.
Hoskinson, who has been a vocal advocate for Bitcoin and decentralized technologies, questioned the accuracy of the book’s claims, particularly whether the universities involved had properly vetted the content before it was disseminated.
Hoskinson’s Response
In a post on X (formerly Twitter), Hoskinson expressed his exasperation with what he sees as biased and politically charged narratives against Bitcoin. He pointed out that Bitcoin is a decentralized financial system that doesn’t align with any single political ideology, emphasizing its role in promoting financial inclusion and economic freedom. He also voiced frustration that USAID, a government agency, was involved in funding what he considers anti-Bitcoin propaganda.
The Bigger Picture
Hoskinson’s comments come amid broader debates about Bitcoin’s role in society and its connection to various political ideologies. Proponents of Bitcoin argue that it is a neutral and inclusive technology, while critics have attempted to label it as a tool for extremism, often with little evidence to support these claims.
In parallel, the controversy over USAID’s funding comes at a time of uncertainty for the agency. Under the Trump administration, USAID has faced scrutiny and a temporary funding freeze, impacting its global humanitarian efforts. Representative French Hill, chairman of the House Financial Services Committee, has commented on USAID’s spending, noting that the agency’s financial operations are being reviewed.
Bitcoin Market Resilience
Despite the controversy, the Bitcoin market continues to show stability. As of the latest data, Bitcoin is trading above $97,000, indicating resilience amid global economic challenges. This market stability, paired with the growing focus on Bitcoin adoption, signals an ongoing shift in the acceptance of digital assets.
Speculation Around Policy Shifts
Additionally, Trump Media has recently filed trademarks related to a crypto-focused investment product, which has led to speculation about potential shifts in the administration’s approach to cryptocurrency regulation. Some analysts believe that the U.S. government may become more open to embracing digital assets, with initiatives like the Strategic Bitcoin Reserve hinting at a broader shift in policy.
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