Charles Hoskinson is a crypto entrepreneur who is best known as the co-founder of the Cardano (ADA) blockchain network. But it is his medical venture that is creating noise these days. Relate
Charles Hoskinson is a crypto entrepreneur who is best known as the co-founder of the Cardano (ADA) blockchain network.
But it is his medical venture that is creating noise these days.
Related: Cardano founder claims he 'rebuilt Wall Street'
In 2023, Hoskinson, along with his father and brother—both physicians—opened the Hoskinson Health and Wellness Clinic in Gillette, Wyoming.
Upon launch, Hoskinson said the clinic would be the “Mayo Clinic of the West,” where world-class medical facilities would be available to patients from rural areas.
But the Hoskinson Health and Wellness Clinic said it is closing down on July 31, Cowboy State Daily reported on May 23.
The Wyoming-based news publication reported that the clinic leaders confirmed the closure.
Though medical records will be preserved for a minimum of 10 years as mandated by law, the clinic has advised patients who require a copy of their records to apply before July 17.
As per the statement, the Hoskinson Health and Wellness Clinic set out to become a place where patients from these rural regions could access advanced medical care without leaving Wyoming but it has come to a conclusion that the organization is no longer "financially sustainable in its current form."
Notably, the clinic had laid off 40 employees in January this year and claimed that it was burning through cash at an “unsustainable rate.”
As per Cowboy State Daily, William Hoskinson told the publication earlier that the clinic served 18,000-20,000 patients and didn't take any government funding outside of Medicaid or Medicare reimbursements.
Charles Hoskinson admitted it's been "one of the worst weeks" of his life and said he is 100% focused on Cardano and Midnight, a privacy-focused layer-1 blockchain built within the Cardano ecosystem, right now.
Cardano's native token, ADA, has dropped more than 25% in value this year and was trading at $0.24 at press time.
Midnight's native token, NIGHT, has fallen more than 60% during the same period and was trading at $0.03303 at press time.
Related: Charles Hoskinson reveals multibillion-dollar loss after market crash
