Cardano Founder’s Transparency Push Amid ADA Misuse Claims Could Influence Coinbase Listings

Charles Hoskinson, the founder of Cardano, has taken a bold 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. 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 Hoskinson's commitment to transparency and could have significant implications for Cardano's reputation and potential listings on major exchanges like Coinbase. The cryptocurrency community is eagerly awaiting the findings, as the outcome could influence investor confidence and ADA's market performance.

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.

Ethereum Owner Mistakes Lead to $3.4 Billion in Irreversible Losses

Conor Grogan, a Coinbase executive, has revealed that 913,111 ETH—roughly 0.76% of its total supply—has been permanently lost due to user errors and flawed smart contracts. The missing Ethereum, valued at $3.4 billion, stems from incorrect wallet transfers, defective contracts, and inaccessible multi-signature wallets. This figure excludes losses from forgotten private keys.

A 2017 Parity wallet bug locked 306,000 ETH belonging to the Web3 Foundation after a critical code deletion. Despite the frozen assets remaining visible on-chain, no hard fork has been implemented to recover them. Separately, defunct exchange QuadrigaCX misdirected 60,000 ETH to unrecoverable contracts amid managerial disarray.