The Cardano Foundation announced that it will publish an audit report on its treasury holdings after allegations of misappropriation of approximately 600 million dollars in ADA tokens arose.
Charles Hoskinson, founder of Cardano, is under scrutiny from the community after the complaint from NFT artist Masato Alexander. He alleged that Hoskinson manipulated the Cardano ledger using a 'genesis key' to rewrite it and control 619 million dollars in ADA during the hard fork Allegra in 2021.
In 2021, Charles Hoskinson unilaterally used his genesis keys to REWRITE the Cardano ledger and take control of ₳318m ($619m)
By comparison, when the DAO hack happened in 2016, the Ethereum community forked over $60m.
One of the largest ledger reorgs in blockchain history: 🧵— masato_alexander (@masatoalexander) May 7, 2025
A secondary transaction known as 'Move Instantaneous Rewards' on October 24, 2021, revealed the transfer of more than 318 million ADA tokens. Allowing funds to be moved from reserves to staking or treasury allocations. This has generated controversy and demands for transparency.
Bitcoin Strategy expands its treasury with more than 7,000 BTC and accumulates millionaire profits
Bitcoin Strategy announced the purchase of an additional 7,390 bitcoins between May 12 and May 18, with an approximate investment of 764.9 million dollars. The average acquisition price was 103,498 dollars per unit. According to a document submitted to the Securities and Exchange Commission (SEC).
With this operation, the company led by Michael Saylor accumulates a total of 576,230 BTC, equivalent to more than 2.7% of the total supply of the cryptocurrency. The total cost of its treasury amounts to about 40.2 billion dollars, with a market value exceeding 59 billion. This represents an approximate paper profit of 18.8 billion dollars.
Metaplanet buys more than 100 million in Bitcoin and now exceeds 7,800 BTC in reserves
The Japanese firm Metaplanet continues to strengthen its Bitcoin-based treasury strategy with the acquisition of 1,004 BTC for an approximate value of 104.3 million dollars. The purchase was made at an average price of 103,873 dollars per unit. As revealed this Monday by its CEO, Simon Gerovich.
Metaplanet Acquires Additional 1,004 $BTC pic.twitter.com/r86rLc7ngh
— Metaplanet Inc. (@Metaplanet_JP) May 19, 2025
With this operation, Metaplanet raises its total holdings to 7,800 BTC, acquired for a total of 712.5 million dollars, at an average price of 91,343 dollars per BTC. At the current market value, its reserves amount to about 806 million dollars.
The company, known as the 'Asia strategy' for its aggressive approach to cryptocurrency, began its accumulation in April 2024 and aims to reach 10,000 BTC by the end of 2025. The recent purchase comes amid a surge that keeps Bitcoin trading near its all-time highs.
El Salvador has accumulated more than USD 357 million in unrealized gains from its investment in Bitcoin
The president of El Salvador, Nayib Bukele, announced that the country's Bitcoin investment strategy has generated more than 357 million dollars in unrealized gains, thanks to the recent surge in the cryptocurrency's price, which is approaching its all-time high of 109,000 dollars.
According to data shared by Bukele on his X account, the national Bitcoin wallet currently has a value of more than 644.4 million dollars, compared to an initial investment of 287.1 million. This represents an unrealized profit margin of 124.4%. Including nearly 70 million dollars earned so far in 2025.
🤷🏻♂️ pic.twitter.com/05izbAR202
— Nayib Bukele (@nayibbukele) May 19, 2025
El Salvador currently holds about 6,181 BTC, valued at approximately USD 640 million.
