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Reading: Charles Hoskinson Responds to ADA Misappropriation Claims with IOG Transparency Audit
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EdaFace Newsfeed > Latest News > Crypto News > Charles Hoskinson Responds to ADA Misappropriation Claims with IOG Transparency Audit
Crypto News

Charles Hoskinson Responds to ADA Misappropriation Claims with IOG Transparency Audit

vitalclick
Last updated: July 21, 2025 6:19 am
3 days ago
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Contents
Legal FalloutPrice Bump and Market ResponseAnalyst Views and Community SplitWhat’s Next for Cardano?Never Miss a Beat in the Crypto World!FAQs

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.

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.

I will read the…

— Charles Hoskinson (@IOHK_Charles) July 20, 2025

Legal Fallout

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.

Price Bump and Market Response

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.

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Analyst Views and Community Split

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. 

Spreading false information, whether for personal gain or out of ignorance, should be punished. I hope this audit sets a good example.https://t.co/WQaSAWDIAg

— dori (@dori_coin) July 21, 2025

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.

What’s Next for Cardano?

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.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQs

Why is Charles Hoskinson launching an ADA audit?

To address claims of misusing 350M ADA tokens and ensure full transparency of IOG’s holdings.

When will the Cardano ADA audit be released?

Charles Hoskinson says the IOG ADA audit will be publicly released by mid-August 2025.

Did the ADA audit news affect Cardano’s price?

Yes, ADA rose 4.2% to $0.86 after the audit announcement, reflecting market optimism.

Will the Cardano ADA audit be public?

Yes, Hoskinson will livestream the audit reading and publish the report on a dedicated website.

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