Big drama has hit the Cardano world! Charles Hoskinson, the founder of Cardano, is under fire after being accused of misusing over $600 million worth of $ADA tokens. But he's not staying quiet. In fact, he’s promised a full audit to prove the truth.
The accusations come from NFT artist Masator Alexander. He claims that back in 2021, during the Allegra hard fork, Hoskinson used special access called “genesis keys” to move 318 million ADA into a fund. Alexander says this money later helped launch a group called Intersect, and he’s raising questions about where all the money really went. He says Intersect used less than $10 million in its first year — so where’s the rest?
Hoskinson strongly denies any wrongdoing. He says most of the ADA in question had already been claimed by original buyers, and only leftover tokens were sent to Intersect. He also made it clear that his company, Input Output Global (IOG), never kept any of the unclaimed ADA for itself.
Upset by the wave of backlash online, Hoskinson announced that a full audit is coming soon. He also said he’ll step back from running his personal X account and let his media team handle it from now on.
This story is still developing, and all eyes are on the audit. One thing is certain — the Cardano community is watching closely.
#ADA #CharlesHoskinson #GENIUSAct
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