{"id":35531,"date":"2025-07-07T14:01:35","date_gmt":"2025-07-07T14:01:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35531"},"modified":"2025-07-07T14:01:35","modified_gmt":"2025-07-07T14:01:35","slug":"cardano-is-in-touch-with-circle-and-tether-says-hoskinson","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35531","title":{"rendered":"Cardano Is In Touch With Circle And Tether, Says Hoskinson"},"content":{"rendered":"
\n

Charles Hoskinson has pushed back against the persistent narrative that Cardano\u2019s lack of USDC and Tether support stems from strained relations or a refusal to pay integration fees. Speaking during a recent X Space, the Cardano founder laid out<\/a> a detailed account of the platform\u2019s ongoing engagement with both Circle and Tether, stating explicitly: \u201cWe talk to Circle probably every month to two months. We\u2019ve engaged with Tether numerous times.\u201d<\/p>\n

Cardano Needs DeFi, Then USDT And USDC<\/h2>\n

Hoskinson framed the issue not as a matter of neglect or friction, but rather as a question of network maturity and leverage. \u201cCircle offered to come to Cardano back in 2021,\u201d he said, recalling a $3 million proposal that was ultimately declined by the Cardano Foundation. \u201cThey just said no, which was just unbelievable to me. But that was that.\u201d According to Hoskinson, stablecoin issuers such as Circle<\/a> and Tether base their decisions largely on total value locked (TVL) and the depth of the DeFi ecosystem\u2014two metrics where Cardano has consistently lagged behind Ethereum and Solana.<\/p>\n

With Cardano\u2019s TVL hovering between $300 million and $400 million, compared to Solana\u2019s $8 billion and Ethereum\u2019s more than $100 billion, Circle and Tether<\/a> remain unconvinced that an integration would be commercially worthwhile\u2014unless the network itself or its founding entities were to mint significant volumes of the stablecoins to kickstart liquidity. \u201cThe proposition on the table is go create an integration for an exotic chain you don\u2019t understand a lot about\u2026 and release it into a DeFi market which is a rounding error to the markets that you\u2019re currently in,\u201d Hoskinson said, adding that stablecoin providers have in the past requested $100\u2013300 million worth of pre-minted issuance to justify the effort.<\/p>\n

Hoskinson stressed that this is not about animosity or unwillingness to engage: \u201cIt\u2019s not like we\u2019re on bad terms with these companies.\u201d Instead, he argued, the absence of USDC and USDT is a rational outcome of market dynamics and value distribution. \u201cIf the founding entities are willing to put a lot of cash up and get stuff minted, that might be. But in lieu of that, it\u2019s not for people at that size,\u201d he said.<\/p>\n

He also challenged the belief that securing Circle or Tether would fundamentally transform Cardano\u2019s DeFi sector. \u201cPeople seem to think that the inclusion of Circle and Tether will somehow magically supercharge the Cardano ecosystem. That\u2019s just not true. It\u2019s the opposite,\u201d Hoskinson asserted. \u201cIf you have a thriving DeFi ecosystem, ample stablecoin options are an organic consequence of that. But thriving stablecoins don\u2019t cause you to have a thriving DeFi ecosystem.\u201d<\/p>\n

Highlighting Algorand\u2019s experience\u2014where hundreds of millions in USDC were minted but had little effect on its DeFi traction\u2014Hoskinson warned against mistaking presence for impact. Instead, he called on the Cardano community and ecosystem actors to focus on building internal capacity. \u201cBuild up the stablecoins,\u201d he said, reiterating plans for a Cardano sovereign wealth fund intended to bootstrap ecosystem liquidity. \u201cThe proposal will come out at Rare Evo. And I think it\u2019ll put that first $100 million in.\u201d<\/p>\n

He also noted the potential for Bitcoin DeFi to serve as a Trojan horse: if Cardano can become a stablecoin issuance platform for Bitcoin and Lightning Network users, the incentives for Circle and Tether to onboard may increase organically. \u201cBitcoin DeFi will bring a shit ton of TVL if it\u2019s done correctly into the Cardano ecosystem,\u201d he said. \u201cI told them I\u2019d be willing to do it for free.\u201d<\/p>\n

Hoskinson closed by condemning the reduction of nuanced, strategic considerations to social media scapegoating<\/a>. \u201cOn Twitter, everything I\u2019ve just told you goes from this nuanced answer to: the reason Tether and Circle are not on Cardano is either they hate Charles Hoskinson\u2026 or Charles is not willing to pay the price,\u201d he said. \u201cThere\u2019s no price tag on the table.\u201d<\/p>\n

Until Cardano\u2019s DeFi ecosystem can offer serious TVL and user demand, he suggested, no amount of negotiation or goodwill will be enough. \u201cYou always strategically negotiate from a position of strength,\u201d Hoskinson said. For now, that means building\u2014internally, deliberately, and from the ground up.<\/p>\n

At press time, ADA traded at $0.5899.<\/p>\n

\"Cardano<\/div>\n","protected":false},"excerpt":{"rendered":"

Charles Hoskinson has pushed back against the persistent narrative that Cardano\u2019s lack of USDC and Tether support stems from strained relations or a refusal to pay integration fees. Speaking during a recent X Space, the Cardano founder laid out a detailed account of the platform\u2019s ongoing engagement with both Circle and Tether, stating explicitly: \u201cWe […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35531","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35531"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35531\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}