Cardano Founder Charles Hoskinson Burns $80 Million in $CHARLES Memecoins Amid Criticism from Gavin Wood

Charles Hoskinson, the founder of Cardano, has reportedly burned $80 million worth of a memecoin named $CHARLES by sending it to a burn address. This action has sparked discussions within the cryptocurrency community regarding the value of founder tokens, with some suggesting that merely airdropping coins associated with a well-known figure does not create intrinsic value. Concurrently, Gavin Wood, founder of Polkadot, criticized meme coins, arguing that their creation involves 'no effort' and reflects a broader philosophical debate about value in the cryptocurrency space. The emergence of a Solana memecoin linked to Hoskinson has also raised questions about its potential impact on market perceptions.