Cardano founder Charles Hoskinson says he has requested further transparency on the initial audit of his firm Input Output Global’s (IOG) ADA holdings, but anticipates it will be ready for public release within a month.
“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 in an X post on Saturday.
Hoskinson expects smooth release if timeline holds
“I believe we are on schedule for a mid-August release, assuming the work continues at this pace and there are no delays,” he added.
On May 19, Hoskinson announced he would release an audit report of IOG’s treasury holdings, after denying allegations that $600 million in Cardano (ADA) had been misappropriated.
At the time, Hoskinson said he was “deeply hurt” by the community’s mistrust after the allegations.
“IOG never gave itself 350 million unclaimed ADA. This is a lie. The vast majority was claimed, and the remaining that was forfeited after seven years of waiting was donated to Intersect,” Hoskinson said in a May 6 X post.
“No matter how many times people lie, they cannot change reality,” Hoskinson added.
Hoskinson will meet lawyers to “discuss options”
It came after scrutiny from community members, including non-fungible token artist Masato Alexander, who alleged that Hoskinson manipulated the Cardano ledger using a “genesis key to rewrite it and take control” of $619 million worth of Cardano during the network’s 2021 Allegra hard fork.
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Hoskinson said he will comprehensively explain the audit over a livestream when it is published.
“I will read the entire report via a livestream once it becomes available,” he said, adding that a dedicated website will host it, as well as “other historical artifacts from the sale.”
Hoskinson suggested he is also exploring legal action against those behind the allegations. “Meeting with the defamation law firm next week to discuss options and strategy,” he said.
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