TL;DR
- Charles Hoskinson believes Bitcoin DeFi is the most significant growth opportunity for Cardano, highlighting innovations like Leios, Hydra, and Midnight.
- However, he warns that Cardano lacks strong leadership and executive presence to deliver its vision.
- Despite internal challenges and public criticism, Hoskinson and IOG are doubling down on fixing governance structures and preparing for a major reveal at the upcoming Rare Evo conference.
Charles Hoskinson has laid out a clear path forward for Cardano, stating that Bitcoin DeFi represents the chain’s most strategic frontier. Backed by a robust tech stack and DeFi projects such as Minswap, Lace Wallet, and USDM, Cardano is technically poised to take on Bitcoin’s massive $2 trillion liquidity. Yet the founder of “Input Output Global” (IOG) warns that without a structured leadership framework, these developments could remain underappreciated by the broader crypto space.
He argues that while Cardano is often dismissed by critics and influencers, it’s consistently delivering on decentralization, scalability, and long-term resilience. Still, without a central executive voice, these advances risk being drowned out. Hoskinson shared,
“Bitcoin DeFi is indeed the largest opportunity, but the single biggest issue is that we are missing a competent foundation and executive authority to push these narratives.”
Cardano’s DeFi Tools Are Ready For Growth
Minswap, Cardano’s most active decentralized exchange, is preparing to tap into Bitcoin’s massive liquidity pool. Tools like the USDM stablecoin and Lace Wallet are also gaining traction. Combined with innovations like Leios for scalability, Hydra for throughput, and Midnight for privacy, Cardano is building an advanced financial stack. Plans are also in motion to convert 5–10% of the treasury into Bitcoin or stablecoins using a TWAP strategy, mirroring Bitcoin accumulation methods used by MicroStrategy, to fund future ADA buybacks and stabilize price action.
Governance Reform And Structural Challenges Ahead
Hoskinson has expressed frustration at being pushed to fill the leadership void, while facing harsh criticism and even false allegations.
“Being accused of stealing hundreds of millions without any evidence was the lowest point of my career,” he stated.
Despite this, IOG remains committed to acting as a central coordinator.
The upcoming Rare Evo event is expected to be pivotal. Governance updates, constitutional reforms, and the possible creation of a sovereign wealth fund are on the agenda. Hoskinson views this moment as critical to finally aligning Cardano’s governance model with its technological potential.
Cardano (ADA) currently trades 35% lower in 2025, though it’s still up 56% over the last twelve months. With 35.36 billion ADA in circulation out of a total 45 billion cap, Cardano is under pressure to increase demand. The path forward may rest on whether Bitcoin DeFi, backed by new leadership structures, can unlock the next wave of adoption and recognition.
