According to the source, Cardano founder Charles Hoskinson said that Donald Trump’s meme coin launch and the broader politicization of crypto hurt the industry’s long-term prospects ahead of the 2026 U.S. midterm elections (source). According to the source, this frames a persistent U.S. policy and regulatory overhang that traders treat as headline risk, with potential pressure on risk appetite and liquidity for smaller-cap tokens (source). According to the source, market participants are guided to monitor U.S. election-linked policy news and regulatory developments as key drivers of crypto market sentiment into 2026 (source).