Charles Hoskinson denied rumors of insider monopolization of the NIGHT token from Midnight.

More than 1.3 billion NIGHT tokens have been received, with 69,000 wallets participating by August 19.

Midnight is partnering with Fireblocks to support the secure institutional adoption of NIGHT tokens.

Charles Hoskinson, founder of Cardano, denied speculation about insiders hoarding cryptocurrencies during the distribution of NIGHT tokens on the Midnight network.

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The Glacier Drop distribution process, which began in early August, has seen demand for over 1.3 billion NIGHT tokens, demonstrating significant interest from the cryptocurrency community. Hoskinson's response comes as Midnight collaborates with Fireblocks to enhance secure adoption by major players.

Success of the Midnight token distribution and its partnerships

Speculation began with a satirical post on platform X claiming that most NIGHT tokens would return to Hoskinson, suggesting that the distribution did not attract enough users.

Hoskinson described this information as misleading, publishing data showing that over 69,000 wallets acquired 1.3 billion NIGHT tokens by August 19, representing approximately 5.5% of the total supply. He noted that the distribution process is going well, having acquired 250 million tokens in the first 24 hours alone.

Analysts say the 60-day claim period ensures fairness, and the low number of early claims could mean larger payments for those who join later, potentially leading to a rush as the deadline approaches.

The Midnight project, which focuses on privacy and is linked to Cardano, announced a partnership with Fireblocks, a secure digital asset management platform. This move helps institutions claim and use NIGHT tokens safely.

Fireblocks supports Midnight's goal of a secure, private blockchain-based future. The airdrop allocates 50% of the 24 billion NIGHT tokens to ADA holders from Cardano, 5% to XRP holders, and the remainder to users of other blockchains like Bitcoin. Hoskinson's focus on transparency aims to build trust as Midnight grows.