Charles Hoskinson Shuts Down Hoarding Rumors as Midnight Project Expands

Cardano founder Charles Hoskinson slams accusations of token hoarding as his privacy-focused blockchain Midnight gains momentum.

Setting the Record Straight

Hoskinson didn't mince words addressing what he called 'baseless speculation' about his personal crypto holdings. The response came amid growing interest in Midnight's development timeline.

Midnight's Rising Profile

The privacy protocol continues attracting developer attention despite regulatory headwinds facing privacy coins globally. Industry watchers note the timing seems calculated—nothing like launching a privacy project while regulators are distracted by another crypto exchange collapse.

Same old story: builders build while traders count imaginary gains.

TLDR

• Charles Hoskinson denied allegations that the Midnight token airdrop favors insiders.
• Over 69,000 wallets have claimed 1.3 billion NIGHT tokens since the launch.
• A meme on social media falsely suggested Hoskinson would receive most of the tokens.
• The Midnight airdrop offers a 60-day claim period to ensure fair distribution.
• Analysts believe participation could increase sharply near the end of the claim period.

Cardano founder Charles Hoskinson has rejected rumors of insider manipulation in the ongoing Midnight token airdrop. His response followed claims that most tokens might return to him despite growing participation. As of August 19, over 69,000 wallets had claimed 1.3 billion NIGHT tokens.

Hoskinson Rejects Hoarding Allegations

A meme circulating on X implied that the Midnight airdrop was failing to gain traction among users. It humorously showed Hoskinson as the likely recipient of most NIGHT tokens. The post triggered speculation about transparency and insider bias.

Drop is going incredible well. Why are you spreading misinformation? pic.twitter.com/iOMCSui52W

— Charles Hoskinson (@IOHK_Charles) August 19, 2025

Hoskinson addressed the claims directly and called them misinformation, asking, “Why are you spreading misinformation?” in response. He also attached claim data that disproved the post’s implication. The figures confirmed a steady rise in the number of airdrop participants.

The Glacier Drop data showed that 5.5% of the NIGHT supply had already been claimed. The process began in early August with immediate uptake from the community. Over 250 million tokens were claimed within the first 24 hours.

Midnight Token Sees Mixed Reactions

Some analysts noted that Midnight’s adoption appeared slower than other speculative blockchain projects. They attributed this to low overall engagement in the Cardano ecosystem. Yet they acknowledged that such comparisons might not reflect long-term value or potential.

They also emphasized the benefit of the 60-day claim window offered by Midnight. Since fewer early claims occurred, later participants might receive higher rewards. This setup could increase participation toward the end of the claim period.

The Glacier Drop remains open to ADA, XRP, BTC, and multichain users. ADA holders receive 50% of the 24 billion NIGHT tokens. XRP users are allocated 5%, with the rest divided among other supported blockchains.

Strategic Partnerships Boost Midnight Ecosystem

Midnight has partnered with Fireblocks, a digital asset platform, to improve security and accessibility. Fireblocks confirmed that it supports SAFE claiming and storage of the NIGHT token. The collaboration aims to boost institutional involvement in the Midnight ecosystem.

Fireblocks stated that the project aligns with its mission to promote secure blockchain participation. The platform expressed confidence in Midnight’s privacy-focused model. This MOVE supports Hoskinson’s efforts to build trust in the rollout.