Cardano’s Hoskinson Calls Midnight the ’Manhattan Project’ for Privacy, Plans January Workshops
Charles Hoskinson, founder of Cardano, labelled Midnight — Cardano’s privacy-focused spinoff — the “Manhattan Project” for privacy-enhanced transactions (PET), chain abstraction and “smart compliance.” Hoskinson said he is drafting extensive technical documentation (80–100 pages daily) and preparing internal workshops in January. He also plans a non-technical PET book, “The Land of PET,” aimed at community ambassadors. The post frames Midnight as compliance-first rather than adversarial to regulators, potentially appealing to institutional developers. MARKET DATA: utility token NIGHT traded around $0.07676, up ~19.6% over the week, market cap about $1.27B and 24h volume ~$589M, after earlier weekly volatility and consolidation. Hoskinson suggested that if January workshops produce a roadmap, “New ADA” could become a concrete 2026 plan. Key themes: Cardano, Midnight (privacy/PET), smart compliance, January workshops, narrative rollout and potential roadmap.
Bullish
Hoskinson’s high-profile endorsement of Midnight and the signal that extensive technical documentation and January workshops are imminent increases the likelihood of concrete deliverables. Framing Midnight as compliance-first broadens institutional appeal, which can drive developer activity and demand for related tokens. Short-term effects: heightened narrative-led speculation already pushed NIGHT ~19.6% weekly; expect continued volatility and potential price spikes around workshop updates or roadmap releases. Mid-to-long term: if workshops yield a clear roadmap and demonstrable progress on privacy-enhanced transactions and smart compliance, adoption and institutional interest could rise, supporting sustained bullish momentum for ecosystem tokens (particularly NIGHT and possibly ADA through network utility). Risks: narrative without follow-through can reverse gains; regulatory scrutiny or technical delays would be bearish. Historical parallels: token prices often rise on promises of major protocol initiatives (e.g., announcements around Ethereum upgrades or privacy L2s) and can correct if timelines slip. Overall, the news is bullish conditional on delivery and roadmap clarity.