Ethereum Co-Founder Charles Hoskinson Identifies 'Mag 7' Giants Such as Amazon and Google as Future 'King Makers' in Cryptocurrency

Charles Hoskinson's Insights: Cardano founder Charles Hoskinson believes that major tech companies, referred to as the "Magnificent Seven," could significantly influence the growth of cryptocurrency, especially following the passage of pro-crypto legislation like the GENIUS Act and the CLARITY Act.

Impact on Ethereum: Hoskinson warns that these tech giants may not support Ethereum, potentially positioning themselves as intermediaries between traditional finance and cryptocurrencies, which could threaten Ethereum's dominance in decentralized finance.

Tech Giants' Blockchain Initiatives: Companies like Google and Amazon are actively exploring blockchain technology, with Google planning to launch a blockchain finance platform by 2026 and Amazon considering the issuance of its own stablecoin.

Market Performance: The Roundhill Magnificent Seven ETF, which tracks the "Mag 7" stocks, saw a slight decline of 0.73%, while Alphabet's stock showed strong momentum and growth potential.