Cardano founder Charles Hoskinson has acquired the primary draft of the lengthy‑promised audit into Enter Output International’s (IOG) ADA holdings and says the doc is “shaping up shortly.” In a X put up on 20 July he wrote, “I simply acquired the primary copy of the audit report. I requested much more element and context in a number of areas, nevertheless it’s shaping up shortly… I consider we’re on schedule for a mid‑August launch, assuming the work continues at this tempo and there are not any delays.”
Why The Cardano Audit Is Wanted
The audit is the centerpiece of Hoskinson’s effort to rebut accusations that IOG quietly commandeered roughly $600 million value of ADA throughout the 2021 Allegra exhausting fork. The cost—first amplified in Could by NFT artist Masato Alexander—claims Hoskinson used a “genesis key” to rewrite the ledger and transfer 318‑350 million unclaimed tokens into firm‑managed wallets.
Hoskinson has repeatedly rejected the story as a “lie,” insisting a lot of the disputed cash had already been claimed by their authentic patrons and that the rest “was donated to Intersect” after a seven‑12 months dormancy interval. “Regardless of what number of occasions individuals lie, they can not change actuality,” he wrote on 6 Could.
The episode escalated after social‑media headlines in late Could urged a $600 million “theft.” “I’m completely disgusted… The headlines I’ve seen are past damaging; they’ll require months if not years of labor and tens of millions of {dollars} to undo put up‑audit,” Hoskinson posted on 20 Could, pledging to pay for an independent review and to publish it in full.
IOG’s chief authorized and coverage officer Joel Telpner confirmed progress on the investigation in a parallel X replace: “We’re making good progress on the investigative and audit report that we promised to ship. The regulation agency and audit agency are near finishing their work and we hope the report will probably be able to launch by the center of August. I’ll proceed to maintain you up to date.”
Hoskinson additionally signaled a authorized counter‑offensive, telling followers he’ll meet “with the defamation regulation agency subsequent week to debate choices and technique,” a transfer he says is aimed toward recovering what he characterizes as “a whole lot of tens of millions of {dollars} of brand name injury” to Cardano.
The forthcoming report will probably be aired stay: Hoskinson intends to learn your complete doc in a livestream and to host the PDF—together with “different historic artifacts from the sale”—on a devoted web site.
Market response has been restrained up to now. ADA modified fingers at roughly $0.84 when the newest replace hit social media—flat on the day however nonetheless up 17 p.c on the week.
At press time, Cardano traded at $0.889.
Featured picture created with DALL.E, chart from TradingView.com
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