Charles Hoskinson Declares “Third Generation of Crypto Is Dead”

Enter Midnight: A New Vision for Crypto

Hoskinson tied this ideological shift to his new project, Midnight. The privacy-focused sidechain, which features its own token called $NIGHT, reflects his evolving priorities. In the same video, he called Midnight the tool that will “drag this whole industry” forward.

He explained that the fourth generation of crypto must include rational privacy, selective disclosure, and cooperation between markets. Midnight, according to Hoskinson, is designed to support those values and attract billions of new users.

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Mixed Reactions from the Community

As expected, the crypto community had varied reactions. Some agreed with Hoskinson’s assessment, viewing his comments as a call to return to fundamentals and build lasting infrastructure. One user summed it up by saying, “It’s not that the tech failed. It’s that hype and narratives hit their limit.”

Others were more skeptical. Critics pointed out that Hoskinson has championed third-gen crypto for years and questioned the timing of his declaration, especially as it coincides with Midnight’s launch. One user commented, “The only guy that uses this generation terminology declares it dead as he launches the next one.”

Some also warned that such statements could harm ADA’s price, given its association with the third generation narrative.

Broader Reflections on Crypto’s Direction

Hoskinson’s comments reflect growing fatigue in the crypto community. Many users have grown tired of cycles driven by greed and speculation. From 2021 onward, critics say the dominant message in crypto has been: “What’s the next 10x, and how soon can I dump?”

In that context, Hoskinson’s push toward long-term development and privacy-focused innovation resonates with those looking for more serious, sustainable use cases.

Not the First Bold Prediction from Hoskinson

This isn’t the first time Hoskinson has challenged the crypto status quo. In October, he declared that Bitcoin’s traditional four-year cycle no longer applies, citing institutional influence. He has also predicted Ethereum won’t survive the next 10 to 15 years unless it undergoes major changes.

At the same time, he has remained bullish on crypto’s future. He believes billions of people will eventually use blockchain-based tools and that trillions in assets will move on-chain by 2030.

A Pivot or a Progression?

Some may see Hoskinson’s remarks as a marketing shift timed with Midnight’s rollout. However, his consistent push for decentralization, privacy, and transparent systems suggests a deeper evolution in his thinking. The crypto space may still debate what generation we are truly in, but Hoskinson has made one thing clear: he wants the next one to be radically different from the last.