Cardano ADA: Founder Denies Misconduct Allegations, Reaffirms Commitment to Transparency

Charles Hoskinson, co-founder of Cardano and CEO of Input Output Global (IOG), has strongly refuted allegations of misusing funds from ADA’s 2015–2017 initial coin offering (ICO). The controversy centers around claims of unclaimed ADA tokens, which Hoskinson clarified were either claimed or donated to Intersect after a seven-year period. This development underscores Cardano’s ongoing efforts to maintain transparency and trust within the cryptocurrency community.

Cardano Founder Denies Allegations of $619 Million ICO Misconduct

Charles Hoskinson, co-founder of Cardano and CEO of Input Output Global (IOG), has vehemently denied claims of misappropriating hundreds of millions of dollars’ worth of ADA from the blockchain’s 2015–2017 token-generation event. "IOG never gave itself 350 million unclaimed ada. This is a lie," Hoskinson stated on X. The disputed funds, he clarified, were either claimed or donated to Intersect after a seven-year waiting period.

The controversy reignited when an X user highlighted a 2021 on-chain transaction involving 350 million ADA. Critics allege Hoskinson manipulated the cardano ledger through a Monetary Incentives Recalculation withdrawal—a charge he dismisses as baseless.

Cardano Expands Global Presence With New Integrations and Academic Partnership

Cardano is broadening its influence across Europe and Latin America through strategic expansions in staking, tokenization, and exchange listings. The blockchain platform’s native token, ADA, gains visibility as Liechtenstein-based LCX features a dedicated ecosystem page for Cardano-native projects.

Academic collaboration takes center stage with Pontifical Catholic University of Rio de Janeiro (PUC-Rio) partnering with Cardano to explore blockchain applications in energy and finance. This institutional endorsement coincides with Kraken’s listing of Cardano’s snek token, signaling growing mainstream acceptance of CNTs.