Cardano ADA Transparency Push: Hoskinson Commissions Audit to Counter Misuse Claims

Cardano founder Charles Hoskinson has taken a significant step to address allegations regarding the misuse of 350 million unclaimed ADA tokens by commissioning a comprehensive audit of Input Output Global's holdings. The audit report, which is nearing completion, is expected to be released by mid-August 2025. Hoskinson confirmed the progress via social media, stating that he has already received the first copy of the report and that additional details are being incorporated. This move underscores Cardano's commitment to transparency and accountability, potentially bolstering investor confidence in the cryptocurrency's future. As the crypto community awaits the findings, this development could have significant implications for ADA's market perception and long-term growth trajectory.

Cardano Founder Hoskinson Counters ADA Misuse Claims with Transparency Push

Charles Hoskinson has escalated his response to allegations of misusing 350 million unclaimed ADA tokens by commissioning a full audit of Input Output Global's holdings. The Cardano founder confirmed via social media that the report is nearing completion, with a mid-August release targeted. "I just received the first copy of the audit report," Hoskinson stated, noting additional details were being incorporated.

The controversy has already sparked legal action, with Hoskinson engaging defamation lawyers claiming "hundreds of millions" in brand damage. While community reaction remains divided, the market responded positively - ADA prices ROSE 4.2% to $0.86 following the audit announcement, coinciding with Coinbase's integration of wrapped ADA on its Base network.

Cardano (ADA) Price: Weekly Charts Flash Bullish as Momentum Builds

Cardano has reclaimed its position as the 9th-largest cryptocurrency by market capitalization, posting a 16.29% weekly gain and surpassing TRON with a $30.4 billion valuation. The shift highlights growing investor confidence in ADA's recovery potential amid broader market rotations.

Technical indicators reveal a bullish ascending triangle pattern forming below the $0.87 resistance level. The weekly MACD's positive crossover signals a potential trend reversal, while a risk score of 43 mirrors historical accumulation phases that preceded significant rallies. Fibonacci levels at $0.846 and $1.14 provide clear benchmarks for the next price movements.

ADA currently trades at $0.87, having breached all major moving averages including the 200-day EMA at $0.6939. While the RSI reading of 81.99 suggests overbought conditions, the indicator's upward trajectory indicates sustained buying pressure. Market momentum appears poised for continuation despite short-term technical extremes.