Cardano founder opposes the destruction of 1.5 billion ADA tokens

Cardano founder Charles Hoskinson publicly opposes the destruction of over 1.5 billion ADA tokens, worth about $500 million on this blockchain network. Hoskinson pointed out in a social media post last night that these assets are not pre-minted tokens, but are generated through block production and transactions. He believes that destroying these assets is equivalent to stealing from Stake Pool Operators (SPOs) and ADA holders.

On September 1st, Cardano completed the first phase of the Chang hard fork. Some community members support token destruction to boost ADA prices, while others warn it could potentially be harmful.

Jaromír Tesař, one of Cardano's decentralized representatives, believes that asset destruction would be a "terrible mistake". He suggests that these funds could be better used to support Cardano's development.