Cardano founder opposes burning 1.5 billion ADA tokens

Golden Finance reported that Cardano founder Charles Hoskinson publicly opposed the destruction of over 1.5 billion ADA tokens worth about $500 million on the blockchain network. Hoskinson pointed out in a social media post last night that these assets were not pre-minted tokens, but were generated through block production and trading. 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 the destruction of tokens to boost ADA price, while others warn of potential harm. Jaromír Tesař, one of Cardano's representatives of decentralization, believes that destroying assets would be a terrible mistake and suggests that these funds could be better used to support the development of Cardano.