Cardano ADA Faces Controversy as Founder Denies $600M Misappropriation Allegations

Cardano founder Charles Hoskinson has vehemently denied allegations made by Optim Finance, which accused him of misappropriating 318 million ADA (worth approximately $600 million) during the 2021 Allegra hard fork. Hoskinson dismissed the claims as baseless, emphasizing the lack of victims, lawsuits, or regulatory actions to substantiate the accusations. Despite the controversy, ADA’s price remains stable at 0.73370000 USDT. This article delves into the details of the allegations, Hoskinson’s response, and the potential implications for Cardano’s future.

Cardano Founder Accuses Optim Finance of $600M Smear Campaign

Cardano founder Charles Hoskinson has publicly accused Optim Finance of orchestrating a smear campaign against the blockchain project. The allegations center on unsubstantiated claims that Hoskinson misappropriated 318 million ADA ($600 million) during the 2021 Allegra hard fork.

Hoskinson dismissed the accusations as baseless, noting the absence of victims, lawsuits, or regulatory action. "Serious people don’t believe allegations without compelling evidence," he stated, criticizing the source as an NFT creator misunderstanding code screenshots.

To address community concerns, Hoskinson announced plans for a protocol audit to verify Cardano’s financial integrity. The controversy has sparked renewed scrutiny of the project, with Hoskinson demanding accountability from Optim Finance.

Analysts Reveal Their Top Bull Run Picks: Cardano (ADA) and Ruvi AI (RUVI)

As the cryptocurrency market gains momentum, analysts are spotlighting Cardano (ADA) and Ruvi AI (RUVI) as standout contenders for the next bull run. Cardano, a blockchain platform lauded for its scalability and security since its 2017 launch, continues to attract institutional interest with its research-driven approach. The Alonzo upgrade further cemented its position in decentralized finance (DeFi) and NFTs.

Ruvi AI emerges as a dark horse, leveraging artificial intelligence to disrupt traditional crypto paradigms. Its innovative solutions cater to growing demand for AI-integrated blockchain applications, positioning it as a high-growth prospect. Both projects exemplify the market’s dual appetite for established infrastructure and cutting-edge experimentation.

Cardano Price Prediction: Bull Run Could Take ADA To $2.50 Again, Unilabs Set to Hit 10x ROI

Cardano’s ADA shows resilience amid market turbulence, holding steady NEAR $0.76 despite founder-related controversies. On-chain data reveals whale accumulation, with assets moving off exchanges—a bullish signal for long-term holders. Analysts identify $1.90 as a critical resistance level that could confirm the $2.50 price target.

Unilabs emerges as a disruptive force, leveraging AI-managed crypto funds to attract institutional interest. Its presale offers early access to a DeFi innovation that segments assets at professional investment levels. The project’s 10x ROI potential diverts attention from ADA’s governance-powered recovery.

Market sentiment remains bifurcated: Cardano’s community governance progress battles skepticism about leadership, while Unilabs’ quantitative approach appeals to risk-adjusted capital. Traders watch for either ADA’s breakout confirmation or accelerated migration to algorithmic alternatives.

Cardano (ADA) Price Consolidation and Whale Activity Signals Potential Breakout

Cardano’s ADA is exhibiting a classic consolidation pattern, trading between $0.65 and $0.85 after a significant rally. The current price of $0.75 reflects a modest 0.58% daily gain, with trading volume holding steady at $673.66 million. This range-bound movement suggests accumulation, as investors position themselves for the next major price movement.

Whale activity has surged, with over 180 million ADA acquired in the past week alone. Such substantial accumulation by large holders often precedes bullish breakouts. ADA now tests critical technical levels, with the 100-day moving average serving as both support and resistance. A decisive MOVE above this barrier could trigger upward momentum, while failure to hold $0.70 support may see declines toward $0.60.