Charles Hoskinson, co-founder of blockchain engineering firm Input Output Global (IOG) and the Cardano platform, has pledged to make IOG’s ADA holdings public. He expects the disclosure to be ready by mid-August.
In a post shared on X, Hoskinson said he just received the initial copy of the audit report. After receiving the copy, he requested additional details and context in a few spots on the report.
Hoskinson pledges to prove allegations against IOG as untrue
Previously, IOG was accused of inappropriately acquiring a significant amount of Cardano. The company acquired around $600 million in Cardano based on the allegations.
Hoskinson took the step to address these accusations. He promised that a detailed audit report of his firm’s assets would become available next month and said the accusations were untrue. The accusations, he said, reflected a lack of trust within the community, and he was heartbroken.
Hoskinson also addressed the claims in an X post, stating that IOG did not allocate 350 million unclaimed ADA to itself—a claim he firmly rejected. He explained that most of the ADA had already been claimed, and the remaining portion, which had gone unclaimed after seven years, was transferred to Intersect. Hoskinson stressed that no matter how often falsehoods are repeated, they cannot change the truth.
An example of community members who raised the allegation includes Masato Alexander, a non-fungible token artist. According to Alexander’s allegations, Hoskinson was the mastermind of the Cardano possession.
He said earlier that the IOG co-founder utilized a “genesis key” to manipulate the Cardano ledger in 2021 during the Allegra hard fork, consequently generating about $619 million worth of Cardano.
Yet in the face of these allegations, Hoskinson never wavered from his claim to bring out a detailed version of the audit soon after its release.
He committed to reading it from start to finish on a livestream directly after it is published and said that, in addition to a credible website hosting the report, it would be preserved in other historical forms
For those spreading the allegations, Hoskinson vows to file a lawsuit against them. To demonstrate the seriousness of the situation, he said that next week he would meet up with professionals from a defamation law firm to discuss their alternatives and plans.
Hoskinson stated that not receiving the benefit of the doubt shows he does not have the relationship he believed he had with certain individuals.
Hoskinson intends a life pivot once all the allegations are settled
In the scenario the IOG presents, a secondary market transaction called Move Instantaneous Rewards was unveiled on October 24, 2021. It accounted for the transfer of approximately 318 million Cardano. At that time, funds moved from reserve pools into treasury accounts.
Following the transaction, Hoskinson stated that the acquisition of Cardano had been available for more than three years. According to his explanation, the initial buyers acquired most of the 350 million Cardano over seven years.
Hoskinson plans to take a new turn when all these allegations are settled. He will probably hand over his X account to a media team and switch how he does his AMAs and X spaces.
Notably, Hoskinson was one of Ethereum’s co-founders and is currently among the prominent figures in the blockchain development ecosystem.
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Source: https://www.cryptopolitan.com/cardano-promises-ada-audit-mid-august/