Charles Hoskinson refused to let the network become a subject of ridicule, and he fired back at critics who referred to Cardano as a ‘ghostchain.’
He posted on X, reacting to a publication by the American business magazine Fast Company on activities bordering on crypto projects.
Real Fact with Cardano and Rivals
In the referenced document, Fast Company acknowledged the rising volume of market manipulation in the crypto industry.
The company cited a study published by Cornell University’s preprint server arXiv. The report noted that fewer than 500 people are responsible for up to $250 million yearly in profits and over $3.2 trillion in artificial trading.
Though no specific mentions were made, the report claimed that some crypto projects inflate their numbers to generate nonexistent hype.
These projects tout fake recommendations, claiming they can convince ordinary people to buy cryptocurrency in the long run.
Once this is achieved, the owners pull their stakes and cr
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