- Cardano founder Charles Hoskinson plans to launch a Political Action Committee (PAC) in Wyoming.
- The move follows his frustration with the Wyoming Stable Token (WST) bidding process, which excluded Cardano.
- Hoskinson claims the process favored Ethereum and major stablecoin issuers due to an alleged bias.
Cardano founder Charles Hoskinson is no stranger to controversy, and his latest battle centers around Wyoming’s Stable Token (WST) project. After Cardano was excluded from the blockchain selection process, Hoskinson is now looking to reshape Wyoming’s political landscape, launching a Political Action Committee (PAC) to influence policy and procurement rules.
Challenging the System: Hoskinson’s PAC Plans
In statements to local media, Hoskinson revealed his plan to fund and support political candidates who will advocate for more transparency in state contracts. His main grievance lies in the WST Commission’s decision to consider only pre-qualified blockchains, which included Ethereum, Avalanche, Solana, Stellar, and Sui, but excluded Cardano.
“That is not procurement, that is a no-bid contract built to benefit a small group of people,” Hoskinson argued, calling the process unfair and biased.
His PAC aims to challenge such closed-door decision-making and promote open bidding for blockchain projects in Wyoming.
Allegations of Bias in the WST Selection Process
Hoskinson suggests that the exclusion of Cardano was part of a broader conspiracy involving former Ethereum developers, stablecoin issuer Circle, and BlackRock to favor Ethereum-based solutions.
At the center of his claims is Anthony Apollo, the executive director of the WST Commission, whose background includes several years at ConsenSys, a leading Ethereum development firm.
Apollo has defended the selection process, stating that Cardano failed the “asset freeze and seize” test, one of the criteria for selection. However, Hoskinson criticized the commission for not making these criteria public and denying Cardano the opportunity to showcase compliance.
According to Hoskinson, lack of transparency in state decisions could allow major firms to manipulate contracts, keeping innovation concentrated in the hands of a few players.
Beyond his exclusion from the process, Hoskinson has expressed doubts about the long-term success of the WST project. He argues that the $5.8 million budget is insufficient to compete with private firms making billions annually.
Calling the current plan doomed to fail, Hoskinson suggests that Wyoming should scrap the current approach and start over, this time with a transparent procurement process that includes all qualified blockchain networks.
