In a post on X, the founder of Cardano, Charles Hoskinson, revealed plans for the imminent release of an audit report on the management of ADA tokens from 2021. The audit report aims to disclose the ADA holdings of Input Output Global (IOG) led by Hoskinson, the company behind the Cardano blockchain.
Hoskinson claims to have received the first copy of the audit report but is pushing for more details in key areas before its release. The founder of Cardano anticipates publishing the audit report by mid-August if everything goes as planned.
Hoskinson promotes total transparency with the publication of the audit and commits to reading the full report live. Additionally, Hoskinson states that a specific website will host the report and will be available for access by the Cardano community.
“I just received the first copy of the audit report,” said Hoskinson. “I requested many more details and context in various areas, but it is taking shape quickly.”
Joel Telpner, global legal director of Input Output, reiterated Hoskinson's statement about the timeline for publication. However, Telpner did not disclose the name of the law firm or the auditing firm responsible for the investigation.
Amidst Hoskinson's revelation, the price of Cardano rose by 4.19% to trade at $0.86, joining the rest of the cryptocurrency market rebound.