Cardano founder Charles Hoskinson is pushing back hard against accusations of ADA misappropriation by promising a full public audit of Input Output Global’s (IOG) token holdings. In a post on X, he confirmed the audit is nearly ready and could be released by mid-August. He plans to read the report live on stream and also host it on a dedicated website to ensure maximum transparency for the Cardano community.
The controversy began in May when several individuals accused Hoskinson of misusing 350 million unclaimed ADA tokens. Now, he’s preparing to meet with a defamation law firm, claiming the allegations have caused “hundreds of millions” in brand damage to Cardano. While many supporters back his response, some in the community worry a lawsuit could backfire, with the media potentially framing it as Cardano suing its users.
Following the audit announcement, ADA saw a modest 4.2% price bump to $0.86, riding the broader crypto market wave. Meanwhile, Coinbase has added wrapped ADA (wADA) on its Base network, boosting Cardano’s DeFi exposure post-Leios upgrade, a bullish sign of continued institutional confidence despite controversy.
Crypto analysts are divided. Some say Hoskinson’s aggressive push for transparency may turn the tide in Cardano’s favor if the audit clears him. Others argue the controversy has already sown doubt. “Hoskinson needs to play this perfectly,” said one analyst, noting the potential reputational damage if the audit lacks clarity.
Community members on X are equally split, some applaud the transparency, while others remain skeptical of any internal audit unless it’s done by a top-tier, independent firm.
All eyes are now on the mid-August audit release. If Hoskinson delivers on his transparency promise and the audit clears IOG, Cardano could regain trust and momentum heading into Q4. But if doubts persist, ADA may face increased pressure despite its tech upgrades and exchange adoption. Either way, the next few weeks will be pivotal for Cardano’s narrative in the crypto space.
To address claims of misusing 350M ADA tokens and ensure full transparency of IOG’s holdings.
Charles Hoskinson says the IOG ADA audit will be publicly released by mid-August 2025.
Yes, ADA rose 4.2% to $0.86 after the audit announcement, reflecting market optimism.
Yes, Hoskinson will livestream the audit reading and publish the report on a dedicated website.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin has entered a bear market as demand weakens and large investors reduce exposure, blockchain…
The crypto market in 2025 looks very different from previous cycles. While some familiar patterns…
Canary Capital’s Steven McClurg recently said that Bitcoin has already reached its peak for this…
A growing number of investors are now watching a DeFi token priced at $0.035 as…
A new DeFi altcoin priced at $0.035 is gaining strong traction as traders look for…
Bitcoin has pulled back slightly again, but the bigger picture has not changed much. Prices…
