Cardano ADA: Hoskinson Announces Mid-August Audit Amid Controversy
Cardano founder Charles Hoskinson has revealed plans for a comprehensive audit of Input-Output Global's ADA holdings, scheduled for mid-August. This decision follows unverified claims that IOG improperly obtained 350 million ADA during the 2021 Allegra hard fork. Hoskinson strongly denounced these allegations, calling them "disgusting" and warning of potential long-term reputational damage requiring years to repair. The audit aims to address these concerns transparently as the Cardano community awaits clarification on the $600 million ADA scandal.
Cardano’s Charles Hoskinson Prepares Mid-August Audit Amid $600 Million ADA Scandal
Cardano founder Charles Hoskinson has announced a comprehensive audit of Input-Output Global's ADA holdings, set for release in mid-August. The MOVE comes in response to unsubstantiated allegations that IOG improperly acquired 350 million ADA during the 2021 Allegra hard fork.
Hoskinson condemned the damaging rumors as "disgusting," estimating they could require years of reputation repair and millions in costs. The audit results will be livestreamed and permanently archived alongside historical records of ADA sales.
IOG's legal chief Joel Telpner has joined Hoskinson in committing to transparency. The controversy highlights the delicate balance blockchain projects maintain between decentralization and accountability during foundational phases.
Cardano Price Forecast: ADA Extends Rally as Open Interest Hits Record High
Cardano's ADA token continues its upward trajectory, trading above $0.88 after surging nearly 60% over the past four weeks. Derivatives markets reflect growing confidence, with Open Interest reaching an all-time high of $1.66 billion on Monday.
The technical outlook remains bullish, with analysts eyeing the $1.03 resistance level as the next potential target. Liquidity metrics support the momentum, as Cardano's weekly trading volume climbed to $10.30 billion - the highest since mid-March.
Hoskinson Vows to Livestream ADA Audit Report as August Release Nears
Cardano founder Charles Hoskinson confirmed an audit of Input Output Global's ADA holdings is nearing completion, with a mid-August release targeted. The report will be livestreamed to ensure transparency amid allegations of $600 million ADA misappropriation.
Hoskinson denied claims of ledger manipulation during Cardano's 2021 Allegra hard fork, calling them "lies" that damaged community trust. The audit responds to accusations from NFT artist Masato Alexander regarding unclaimed ADA funds.
Legal action against accusers is planned following the report's publication. Hoskinson emphasized the audit's rigorous process, noting additional context was requested for key sections to maximize clarity.
Cardano Founder Hoskinson Announces August Audit Timeline Amid $600M Token Controversy
Cardano founder Charles Hoskinson confirmed receipt of the first draft audit report for Input Output Global's ADA holdings, targeting a mid-August release. The audit addresses allegations of $600 million in unclaimed tokens being redirected during the 2021 Allegra hard fork—claims Hoskinson dismisses as "lies."
NFT artist Masato Alexander first raised the accusations in May, suggesting IOG used a genesis key to move 318-350 million ADA. Hoskinson maintains the disputed funds were either claimed by original buyers or donated to governance body Intersect after a seven-year dormancy period.
The controversy gained traction when social media posts framed the incident as theft, prompting Hoskinson's public rebuttals. The upcoming audit represents a decisive transparency measure for the blockchain project.
