According to Zack Guzman, senior writer and anchor at Yahoo Finance, billionaire Mike Novogratz had some negative things to say about Cardano during a recent conversation he had with the Founder and CEO of Galaxy Digital.

Guzman said on Saturday (June 12) that Novogratz said that he was shocked by Cardano’s valuation and called it a “weird cult”.

Well, naturally, Charles Hoskinson, Co-Founder and CEO of IOHK, was not amused by Novogratz’s alleged comments about Cardano, and so earlier today he tweeted this response to Novogratz:

Let me translate the billionaire speak for you guys. He’s saying that he doesn’t see a backdoor to get in at a favorable price or manipulate the market like the rest of the VC coins. Somehow fair, transparent, community led cryptocurrencies are “cults” I’ll remember that Mike

According to data by CryptoCompare, currently (as of 17:57 UTC on June 13), $ADA is trading around $1.470, up 0.14% in the past 24-hour period and up 612.90% so far in 2021.


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