Cardano founder Charles Hoskinson is responding directly to claims that he misused ADA tokens by supporting a full audit of Input Output Global’s (IOG) token holdings.
In a recent post on X, Hoskinson confirmed he has received the first version of the report and said that it’s “shaping up quickly.” He expects it to be released by mid-August, assuming there are no major delays.
Hoskinson also promised to read the full report live on a livestream once it becomes available. A dedicated website will be launched to host the audit, along with historical information from the original ADA sale. “Joel will update everyone in early August,” he added.
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. I believe we are on schedule for a mid-August release, assuming the work continues at this pace and there are no delays.
— Charles Hoskinson (@IOHK_Charles) July 20, 2025
I will read the…
This move comes after Hoskinson faced accusations back in May of misusing 350 million unclaimed ADA tokens. He denied the claims and described them as false and damaging. In fact, he revealed he’s working with a defamation law firm, stating that the situation has already caused “hundreds of millions” in brand damage to Cardano.
The decision to release the audit publicly is being seen as a strong push for transparency. Many in the Cardano community are backing Hoskinson’s move. One community member commented, “Spreading false information, whether for personal gain or out of ignorance, should be punished. I hope this audit sets a good example.”
However, not everyone agrees with the legal route. Some community members have raised concerns that a lawsuit could backfire. They worry that the media might frame it as Cardano suing its own users, which could hurt the project’s image.
For now, all eyes are on the upcoming audit. Supporters hope it will put the rumors to rest and provide clarity. Hoskinson seems confident that the audit will speak for itself—and plans to make sure the community sees every detail.
Read also: ADA Price to $1.50? Analyst Says ‘Cardano Is Ready for Another Rally in Coming Days’
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
