Cardano founder Charles Hoskinson has warned that crypto executives closely associated with the Trump administration could face greater political scrutiny if Democrats make significant gains in the 2026 U.S. midterm elections.

Hoskinson made the comments after being questioned over his absence from a recent White House meeting attended by several prominent figures from the cryptocurrency industry. The gathering focused on digital asset policy and efforts to advance U.S. crypto legislation, including the CLARITY Act.

Key Takeaways

• Charles Hoskinson warned that some crypto executives could face investigations if Democrats gain power after the 2026 midterms.
• His comments followed criticism that the Cardano founder was not included in a recent White House crypto gathering.
• Ripple CEO Brad Garlinghouse and other major industry figures attended the meeting with Trump administration officials.
• President Donald Trump has continued to position the U.S. as a global center for financial innovation while his administration has moved to reverse policies that the crypto industry viewed as restrictive.

Hoskinson Responds to Criticism Over White House Absence

The controversy began after a user commented that Hoskinson appeared to have been left out of the White House gathering.

The comment followed a September 3 post from CFTC Chairman Mike Selig, who shared photographs from the meeting and highlighted the administration’s efforts to develop the digital asset industry in the United States.

Notably, the gathering brought together several prominent figures from the crypto and financial sectors, including Ripple CEO Brad Garlinghouse, Coinbase CEO Brian Armstrong, Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi, Gemini co-founders Tyler and Cameron Winklevoss, and Chainlink co-founder Sergey Nazarov.

Hoskinson responded with a warning about what could happen if political control changes after the midterms.

“I’ll sit this one out and pick up the pieces after the Republicans get destroyed in the Midterms and half the people in that picture are being investigated by the newly empowered Democrats”

Crypto’s Relationship With Trump Remains Politically Significant

Hoskinson’s comments come as the cryptocurrency industry has developed a significantly closer relationship with the Trump administration.

Trump has repeatedly pledged to make the United States a leading destination for financial and digital asset innovation. His administration has also pursued policies intended to move away from what the industry viewed as aggressive regulatory pressure under the previous administration.

One notable area has been the administration’s response to Operation Choke Point 2.0, a term widely used by crypto companies and industry advocates to describe alleged efforts by financial regulators to discourage banks from providing services to digital asset businesses.

The Trump administration has positioned itself as opposing such restrictions and has said it wants to ensure financial institutions do not improperly deny access to banking services based on lawful business activities.

That policy direction has helped strengthen ties between Washington and major crypto companies.

Hoskinson Remains Critical of the CLARITY Act

Meanwhile, despite the industry’s closer relationship with the administration, Hoskinson has remained critical of parts of the Republican-led approach to crypto legislation.

The Cardano founder has repeatedly expressed concerns about the CLARITY Act and the political divisions surrounding digital asset regulation. He has argued that crypto should not become identified exclusively with one political party.

That concern is particularly relevant as several of the industry’s most recognizable executives have become increasingly visible alongside Republican officials.

Hoskinson has previously argued that political association could create problems for the broader industry if control of Congress changes.

Trump Continues to Promote Financial Innovation

The political divide comes as Trump continues to promote the United States as a hub for financial innovation.

In May, the White House announced measures aimed at strengthening the financial system while also emphasizing America’s role in financial innovation. The administration said its policies were intended to preserve U.S. leadership in emerging financial technologies.

The White House has also sought to reverse regulatory approaches that crypto advocates described as hostile to the industry, including policies associated with

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Bitcoin’s latest recovery is encountering increased profit-taking activity as short-term holders have transferred approximately 467,000 BTC, worth about $35.4 billion, to exchanges since August 17.

The shift comes as Bitcoin recently tested the $82,000 level while institutional demand through spot ETFs remains strong.

Bitcoin climbed roughly 4% over the course of September 3–4 before pulling back. At the time of writing, the cryptocurrency was trading around $79,673, reflecting a 0.41% drop over the past 24 hours.

Key Takeaways

• Short-term holders have sent approximately 467,000 BTC worth $35.4 billion to exchanges since August 17.
• The share of profitable Bitcoin exchange inflows increased from 35% to 92% after August 20.
• Short-term holders are currently depositing around 27,500 BTC per day, about 29% above the previous three-month average.
• Bitcoin ETF demand remains a counterweight, with approximately $730 million flowing into spot Bitcoin ETFs during the latest trading session.

Bitcoin Tests $82,000 as Selling Activity Changes

Bitcoin’s recent move higher has brought the cryptocurrency back toward levels last seen earlier in the year. The asset tested $82,000 between September 3 and 4 before giving up part of the advance.

The move occurred alongside a significant increase in demand for U.S.-listed spot Bitcoin ETFs. The products attracted approximately $730 million during the previous trading session, according to the market data cited in recent coverage.

However, the on-chain picture suggests that the rally is also giving some investors an opportunity to lock in profits.

CryptoQuant said short-term holders have moved from a period of capitulation toward profit-taking as Bitcoin recovered from its recent weakness.

“Bitcoin Short-Term Holders (STH) flipped from Capitulation to Profit-Taking. Since August 17, Short-Term Holders sent ~467K BTC ($35.4B) to exchanges. The key shift: profitable coins now dominate these flows.”

The distinction is important because exchange deposits can reflect different market conditions depending on whether the coins are being transferred at a profit or a loss.

Profitable Exchange Inflows Rise Sharply

CryptoQuant’s data shows a substantial change in the profitability of Bitcoin entering exchanges.

When Bitcoin was trading below the short-term holder realized price, only around 35% of exchange inflows were in profit. Since August 20, that proportion has climbed to approximately 92%.

This suggests that the current wave of exchange transfers is being driven predominantly by holders who acquired Bitcoin at lower prices and are now sitting on unrealized gains.

The shift followed Bitcoin’s recovery above the short-term holder realized price of approximately $67,600. CryptoQuant said the cost basis for this group subsequently increased to around $70,600 within 15 days.

As newer market participants entered at progressively higher prices, their unrealized gains increased alongside Bitcoin’s recovery.

Daily Bitcoin Deposits Remain Above Average

The increase in profit-taking is also reflected in daily exchange activity.

CryptoQuant estimates that short-term holders are currently sending approximately 27,500 BTC to exchanges each day, representing around $2.2 billion based on the firm’s calculations.

That daily flow is approximately 29% higher than the previous three-month average, indicating that short-term holder activity has become more pronounced during the recovery.

Despite the elevated deposits, Bitcoin has continued to trade at higher levels. This suggests that demand has so far been sufficient to absorb much of the Bitcoin being transferred toward exchanges.

CryptoQuant also placed the short-term holder MVRV ratio at 1.15, meaning the average investor within this group has an estimated unrealized profit of about 15%. Historically, the firm has observed that readings above 1.19 have accompanied more durable rallies, while levels below 1.12 have tended to coincide with shorter-lived moves.

ETF Demand Provides a Counterweight

The increase in short-term holder selling is occurring alongside strong demand from spot Bitcoin ETFs.

The approximately $730 million recorded during the latest trading session represents a significant inflow and provides an important source of demand while other market participants are realizing gains.

This creates a contrasting flow pattern.

Short-term holders are moving profitable Bitcoin toward exchanges, potentially increasing available supply, while ETF investors are directing fresh capital into Bitcoin exposure.

The ability of demand to absorb these coins has so far allowed the market to maintain its recovery.

What to Watch Next as Profit-Taking Increases

The key question is whether Bitcoin can continue absorbing elevated exchange deposits if short-term holders maintain their current pace of profit-taking.

The latest CryptoQuant data does not establish that the rally has ended. Instead, it shows that the character of selling has changed from capitulation toward profit realization.

Investors will likely watch short-term holder exchange flows, the $70,600 realized-price level, and continued ETF demand for indications of how the balance between available supply and new buying develops.

Since the start of September, the cryptocurrency market has once again been influenced by macroeconomic news from the Federal Reserve.

On Sep. 3, Federal Reserve Governor Christopher Waller stated that he favors maintaining current interest rates rather than immediately raising them further. This stance alleviated market concerns regarding a potential September rate hike and boosted Bitcoin and other major crypto assets, with XRP briefly rebounding to around $1.45.

Waller’s comments drew market attention because interest rate expectations have long been a key factor influencing digital assets. A pause in rate hikes could ease upward pressure on the US dollar and Treasury yields, further heightening investor interest in digital assets, including cryptocurrencies.

Why is XRP back in the spotlight?

Amid shifting expectations regarding Fed policy, XRP has returned to investors’ radar. Recent market data shows XRP rebounding to approximately $1.45 in early September, posting a gain of about 5% over the past week and a cumulative rise of roughly 37% over the last month. Meanwhile, continued inflows into XRP spot ETFs have further intensified focus on institutional participation.

From a technical perspective, the $1.35–$1.38 range remains a critical support zone. If XRP can hold above this level and break through recent resistance, it could challenge higher price points.

Many traders and analysts are now watching to see if XRP can retest the $1.70 level and move closer to $2.00. For investors concerned that XRP might not break the $2.00 mark in the short term, a practical question arises: rather than simply waiting for price appreciation, are there more flexible ways to utilize their digital assets and explore opportunities for additional long-term returns?

Against this backdrop, an increasing number of XRP holders are shifting their investment strategies toward the EX DeFi cloud mining platform, seeking a more stable path for asset growth that is insulated from cryptocurrency market volatility.

Why might Fed policy impact XRP?

The cryptocurrency market is highly sensitive to changes in interest rates. When the market anticipates further interest rate hikes, capital typically gravitates toward traditional assets offering higher yields and relatively lower risk; conversely, when expectations for rate hikes subside, some capital may seek opportunities in risk assets such as stocks and digital assets.

In a speech on Sep. 3, Waller noted signs that recent inflation data has begun to cool. If this trend persists, he favors maintaining current interest rate levels. This statement alleviated some traders’ concerns regarding further rate hikes and drove simultaneous gains in both stock and cryptocurrency markets that day.

For XRP, Federal Reserve policy is just one factor influencing its price. ETF inflows, regulatory developments, and market expectations regarding XRP’s long-term utility are also key drivers of its price appreciation.

XRP holders are seeking additional ways to grow their asset value

As XRP price volatility increases, some holders are exploring ways to engage with digital assets beyond simple holding and trading.

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What to watch for in the future?

As we enter September, the market environment for XRP is shifting. XRP ETF capital flows and developments regarding US regulatory policies in mid-September could serve as significant catalysts influencing XRP’s price. With improvements across the macroeconomic landscape, capital inflows, and regulatory expectations, XRP is poised for further upside potential.

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