Hoskinson Stresses Why Cardano’s PoS Is Better as Bitcoin Miners Move with Trucks & Cargo Planes out of China
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The CEO of IOHK, Charles Hoskinson, has a couple of hours ago distanced himself and the Cardano Foundation from a multi-level marketing (MLM) campaign that targets Chinese rich farmers.

This came about some hours ago, after a supposed Chinese descent, Molly, hinted at a conference hosted by 8btc, where a group of elders bought a banner with AD roadshow written on it.

Molly wrote:

ADA is ranked no.6 now, after it got shilling to the old farmers by MLM. There’s a conference host by 8btc today, bunch of elders bought a banner written AD roadshow, they took a photo every quickly and left…

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She then shared a video of the multi-level marketing (MLM) displaying Cardano (ADA) to the old and rich Chinese farmers.

Charles Hoskinson Responds

In response to Molly’s findings, Charles Hoskinson asked her to send more details of the fake activity to the Cardano Foundation, stating that the Foundation has nothing to do with the event

“Could you send what you have seen to the cardano foundation. We have nothing to do with this event. It appears to be a scam and they are using our pictures and logos without permission,” Charles Hoskinson responded.

Responding to Hoskinson’s inquiry, Molly pointed at the video recorded, using IOHK CEO’s image to promote ADA to the old people.

Sure, but I don’t have the contact of Cardano foundation, there’s a video recorded that they even used your photo to promote Ada to old people.

Reacting to Molly’s further proof, Hoskinson said she shouldn’t believe that the event has any connection with the Cardano ecosystem.

Charles Hoskinson noted:

I’ll have someone contact you. Please do not automatically assume these types of events are coordinated by us. They are also done with every other top ten cryptocurrencies. They are scams. I really do not appreciate the implication.

These events have nothing to do with ada or its recent appreciation. They are illegal. The people running them often just take the money and run. You know I have nothing to do with them. They have no affiliation with anyone in the Cardano ecosystem. Is this clear?

Hoskinson also shared a video on YouTube moments later, warning Cardano and crypto community members to beware of any MLM campaign disguised to be related to Cardano (ADA).

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.