|
Getting your Trinity Audio player ready...
|
Cardano (ADA) founder Charles Hoskinson has confirmed that the long-awaited audit report on Input Output Global’s (IOG) ADA holdings is nearing completioCardano IOG ADA audit report
n. In a July 19 post on X, Hoskinson revealed that he received a preliminary version of the report and has requested additional detail and context before its public release. He indicated a mid-August release is likely, barring any delays.
“I just received the first copy of the audit report. I requested a lot more detail and context in several areas, but it’s shaping up quickly,” Hoskinson said. He plans to read the full report during a livestream, reinforcing his commitment to transparency.
Allegations Sparked Demand for Audit
The audit follows heated allegations from community members accusing Hoskinson of manipulating the Cardano ledger during the 2021 Allegra hard fork to misappropriate over $600 million worth of ADA. Hoskinson previously rejected these claims, describing them as baseless and emotionally damaging.
“IOG never gave itself 350 million unclaimed ADA. This is a lie,” Hoskinson stated in a May 6 post. He explained that most unclaimed ADA from the original sale had either been claimed or later donated to Intersect, a nonprofit supporting the Cardano ecosystem.
Also Read: Cardano (ADA) Price Poised for 40% Rally Amid Breakout and Rising On-Chain Strength
Legal Action on the Table
Hoskinson has also indicated that he is considering legal action against those spreading the allegations. He disclosed that he would be meeting with a defamation law firm to explore his options. “Meeting with the defamation law firm next week to discuss options and strategy,” he posted.
To ensure accessibility and context, Hoskinson confirmed that the full report will be made publicly available via a dedicated website, which will also feature historical materials from the original ADA sale.
Conclusion: Audit Aims to Restore Trust
As Cardano battles skepticism within parts of its community, the upcoming audit report could play a pivotal role in restoring confidence. Hoskinson’s promise to deliver a transparent, publicly accessible review—combined with potential legal action—signals a firm stance against misinformation in the crypto space.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
