Cardano (ADA) is one of the most popular digital assets in the crypto market. The network, which has undergone endless updates, has made its mark as a force to be reckoned with, both in terms of development and price. However, it has been trending down since reaching its all-time high of $3 last year and has not made a significant recovery since then.

Recently, this was made even worse by allegations about the network’s founder, Charles Hoskinson. Hoskinson, who founded Cardano in 2017, has come under fire for some information that was published in journalist Laura Shin’s new book.

Hoskinson falsifying information?

In her new book The Cryptopians, Laura Shin opens a window into the world of the key players in the space. One of those who made the lineup was Cardano founder Charles Hoskinson. According to Shin, Hoskinson had made some false claims regarding his schooling and education. Shin said that the founder had previously told him that he had dropped out of a Ph.D. program that she had confirmed to be fake.

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Shin made the accusations in response to a comment Hoskinson had made on Twitter calling his book a “great work of fiction.” The crypto journalist subsequently responded to Hoskinson by asking him to address the discrepancies between his claims about his education and the schools’ claims that Hoskinson never enrolled in his Ph.D. and one of the schools did not even offer a Ph.D. in mathematics. Program.

Other Twitter users responded to Shin by saying that Hoskinson never said he had been to a Ph.D. Program. To which the crypto journalist responded with an audio recording of Hoskinson saying that he was a graduate student. “I was trying to get a Ph.D., and I ended up dropping out and never finishing,” Hoskinson is heard saying on the recording.

Cardano (ADA) takes a hit

Hoskinson has yet to respond to Shin’s accusations regarding his claims that he had dropped out of a Ph.D. Program. However, the digital asset has reacted to this controversy.

On March 6, when Shin published the accusations, there had not been much movement in the price of the digital asset, although it had continued to fall. However, once the exchange started gaining more attention, the effects were felt on the charts.

ADA falls to $0.8 | Source: ADAUSD on

On Monday, March 7, ADA had taken a fairly significant nosedive that put it below $0.8 for the first time in over a year. He had a bit of a rally since he broke above $0.8, but the cryptocurrency has not had much luck continuing that rally as he is now back at $0.8.

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Laura Shin’s book opened up a conversation about many leaders in the crypto space and their conduct over the years. But aside from calling the book a work of fiction, Charles Hoskinson hasn’t said much about the book or its parts.

Featured image from Cointribune, chart from

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