- Charles Hoskinson expects an audit of Input Output Global’s ADA holdings to be released by mid-August.
- Hoskinson requested more details and context in the initial audit report before its public release.
- The audit follows allegations that $600 million in Cardano (ADA) were misused, which Hoskinson has denied.
- Hoskinson plans to livestream the report’s release and provide the audit via a dedicated website.
- Legal action against those making misappropriation claims is under consideration.
Charles Hoskinson, founder of the Cardano blockchain, said on June 22 that he expects a public audit of Input Output Global’s (IOG) ADA holdings to be available by mid-August. This audit aims to address concerns raised over the company’s handling of approximately $600 million worth of ADA tokens.
Hoskinson shared that he received the first draft of the audit. He has asked for additional details and clarity before publishing the full document. He stated on X that the process is moving along quickly, and the timeline should stay on track if there are no delays.
In May, Hoskinson announced the decision to audit IOG’s treasury after community members accused his firm of misappropriating Cardano (ADA). He rejected these allegations, saying he felt “deeply hurt” by the mistrust. At the time of publication, ADA traded at $0.84.
Hoskinson directly addressed claims that IOG gave itself 350 million unclaimed ADA. He said in a May 6 X post that this claim was false, stating: “The vast majority was claimed, and the remaining that was forfeited after seven years of waiting was donated to Intersect.” He added: “No matter how many times people lie, they cannot change reality.”
The scrutiny over IOG intensified after community figures, including NFT artist Masato Alexander, alleged that Hoskinson manipulated the Cardano ledger during the 2021 Allegra hard fork. They claimed he used a “genesis key” to take control of $619 million in ADA. These accusations were denied by Hoskinson.
Hoskinson said he will read the full audit report live when it is released and will host the document and related history on a dedicated website. He also mentioned meeting with a defamation law firm to discuss legal options against those behind the accusations.
For further ADA trading data, readers can view analytics on Nansen.
The audit report and its related documents will be made accessible to the public on a new website after the live reading.
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