Ethereum Co-Founder Charles Hoskinson Sees 'Mag 7' Giants Like Amazon, Google As Next 'King Makers' In Crypto

Core Insights - Charles Hoskinson, founder of Cardano, believes that the "Magnificent Seven" tech giants could significantly influence the next phase of cryptocurrency growth [1][2] Group 1: Legislative Impact - The passage of pro-crypto legislation such as the GENIUS Act and the CLARITY Act is expected to accelerate the entry of major players into blockchain technology [2] - Hoskinson emphasized that traditional finance still holds most liquidity, and these legislative changes will encourage tech giants to adopt blockchain solutions [2] Group 2: Tech Giants' Blockchain Initiatives - Major companies like Microsoft, Amazon, and Alphabet are actively experimenting with blockchain technology [3] - Alphabet is set to launch Google Cloud Universal Ledger in 2026, which will offer capabilities similar to Ripple's XRP Ledger [6] - Reports indicate that Amazon is exploring the possibility of issuing its own stablecoin [7] Group 3: Implications for Ethereum - Hoskinson warned that the rise of these tech giants could pose challenges for Ethereum, as they may not have incentives to support the platform [4] - He suggested that these companies could leverage their user bases to become key players in the cryptocurrency ecosystem, potentially sidelining Ethereum [4][5]