BitMEX co-founder Arthur Hayes said Cardano (ADA) is a purposeless “shitcoin” with no obvious advantage over its competitors. In an interview with Coin Bureau on Sunday, Hayes asked "Who the fucks? Zero?" when talking about Cardano. said. Hayes described Cardano as “the first Ethereum imitator and probably the first thing that will be irrelevant.” In the same interview, Hayes also expressed interest in the “dogwifhat” memecoin, calling it “the best dog coin of this bull cycle.” Cardano founder Charles Hoskinson reacted to Hayes' comments and asked why Hayes was "throwing shade" at Cardano. Hayes responded, "Because your money is shit, man. Just buy some ETH and relax." Cardano is a smart contract platform for developing decentralized applications like Ethereum and became popular as one of the first well-developed proof-of-stake cryptocurrencies that secure its network using crypto instead of energy. However, many popular blockchains today use the same mechanism, and Ethereum is making a major upgrade to adopt proof of stake in 2022. In terms of market cap and DeFi TVL, Cardano is still outperformed by competitors like Ethereum, Solana, and Binance Smart Chain (BSC).