From a token airdrop set to hit 37 million wallets to iris-scanning devices defending their reputation

By Charles Hoskinson Opens Day 1 of Consensus 2025 by Calling Out Tribalism in Crypto and Drops Fresh Details on Midnight's Upcoming Glacier Drop

From a token airdrop set to hit 37 million wallets to iris-scanning devices defending their reputation, Day 1 of Consensus 2025 didn’t disappoint. Crypto heavyweights took the stage in Toronto with big visions, bold claims, and even a few f-bombs.

Whether it was Charles Hoskinson rejecting VCs, Worldcoin pushing back on privacy critics, or Anthony Scaramucci pitching Bitcoin’s path to $500K, there was no shortage of heat. Here are the biggest takeaways from the first day of the industry’s flagship event.

Charles Hoskinson’s Speaks of ‘Glacier Drop’ at Consensus 2025

The agenda for Consensus 2025 is filled with sessions across DeFi, tokenomics, DAOs, and real-world blockchain use cases. And the start was no less than a blockbuster.

Charles Hoskinson opened Day 1 of Consensus 2025 by calling out tribalism in crypto and dropped fresh details on Midnight’s upcoming Glacier Drop. The Cardano founder said 37 million wallets across eight blockchains will receive the Glacier airdrop, excluding all venture capitalists.

“You already have it. It’s yours. It’s your property,” he said on stage, emphasizing that retail users, not insiders, deserve access.

The airdrop will distribute both NIGHT (governance) and DUST (privacy) tokens. Midnight’s “cooperative economics” model allows developers to pay fees in native tokens like ETH, SOL, or BTC while validators earn rewards across chains.

Midnight is still in testnet, with mainnet launch set for late 2025. Hoskinson said the project is his “most fun yet,” built to unite crypto’s fragmented communities.

Worldcoin Fires Back: “Orb Data Never Leaves”

Worldcoin’s iris-scanning tech has drawn global privacy backlash, but advisor Liam Horne defended the project at the event.

Speaking on Wednesday, Horne said critics are misinformed about how the orb works. “The data literally never leaves the orb,” he said. The device scans a user’s iris, converting it into a privacy-preserving World ID. That data stays local.

Still, Worldcoin faces scrutiny in Europe, Africa, and Asia. The team is now expanding Orb access to six U.S. cities, including Miami, Los Angeles, and Austin.

Scaramucci: Bitcoin at $500K Would “Seal It” as Asset Class

SkyBridge Capital founder Anthony Scaramucci said Bitcoin hitting $500,000 would force institutions to fully accept crypto.

“Three trillion is a mag 7 stock. Twenty trillion is an asset class,” he said to the panel at Consensus 2025. Other speakers highlighted spot Bitcoin ETFs, infrastructure growth, and regulatory clarity as major enablers of institutional adoption.

Yet they warned: education and diversification beyond Bitcoin are key. ETFs may lead the way, but broader blockchain investment is needed for the full asset-class transition.

Ripple and Kraken: Stablecoins Are the Future of Payments

Executives from Ripple and Kraken said stablecoins are entering a new phase—beyond crypto, into mainstream finance.

Jack McDonald of Ripple said at Consensus 2025 that the firm’s RLUSD is part of a broader push to fix outdated cross-border systems. Meanwhile, Mark Greenberg of Kraken called stablecoins a “tipping point” for global money movement.

In other news, Ripple’s President, Monica Long, met with officials from the UAE to discuss a potential collaboration, which is bullish for XRP.