Charles Hoskinson, the founder of Cardano, has called for greater transparency in the initial audit of his company, Input Output Global’s (IOG) ADA holdings. He expects the audit report to be finalised and ready for public disclosure within the coming month.
“The first draft of the audit report is with me. I’ve asked for more clarity and context in several parts, but progress is being made swiftly,” stated Hoskinson in a recent X post.
Provided there are no unanticipated delays and the work maintains its current momentum, Hoskinson is optimistic about a mid-August release.
Back in May, Hoskinson had promised to release an audit report of IOG’s treasury holdings after refuting claims that $600 million in Cardano (ADA) had been misappropriated. He expressed his disappointment with the community’s mistrust following these allegations.
“IOG never took 350 million unclaimed ADA for itself. This is a falsehood. The majority was claimed, and the remaining that was forfeited after a seven-year waiting period was given to Intersect,” Hoskinson clarified in a May 6 X post.
The allegations came under the spotlight from several community members, including NFT artist Masato Alexander, who accused Hoskinson of manipulating the Cardano ledger with a “genesis key to rewrite it and gain control” of $619 million in Cardano during the 2021 Allegra hard fork.
Hoskinson confirmed that he would offer a detailed explanation of the audit via a livestream when the report is released. “I will walk through the entire report on a livestream once it’s out,” he said, adding that a special website will host the report along with “other historical artifacts from the sale.”
He also hinted at possible legal action against those who made the allegations, saying, “I’m meeting with a defamation law firm next week to discuss our strategy and potential actions.”
