TLDR
- Charles Hoskinson confirmed that the ADA audit will be released in mid-August.
- The full ADA audit report will be shared livestream in public.
- The audit aims to address allegations of fund misappropriation during Cardano’s Allegra hard fork.
- Input Output Global will publish the report along with supporting transaction records.
- Hoskinson denied claims that IOG used a genesis key to seize unclaimed ADA.
Charles Hoskinson confirmed that an audit of Input Output Global’s ADA holdings is nearing completion. The Cardano founder announced plans to release the ADA audit in mid-August through a livestream. The move follows allegations regarding misappropriation of funds and seeks to restore trust in the Cardano ecosystem.
ADA Audit to be Released in August via Livestream
The ADA audit is in its final stages after Hoskinson requested additional context and transparency in key report sections. Input Output Global will publish the audit publicly on a dedicated website with supporting documents and transaction history. A livestream will accompany the launch to provide clarity and avoid misinterpretation of the findings.
The report responds to earlier allegations that Hoskinson manipulated Cardano’s ledger and misused ADA funds during the 2021 Allegra hard fork. NFT artist Masato Alexander previously claimed Hoskinson used a genesis key to control over $600 million in ADA. The Cardano founder denied the claims and reaffirmed that no unauthorized funds were seized.
Hoskinson emphasized that unclaimed ADA was not misused but donated to Intersect after the expiration of a seven-year claim period. He stated that IOG never allocated itself unclaimed ADA, challenging public accusations as false and misleading. The ADA audit will aim to counter misinformation and reaffirm accountability within the Cardano network.
Legal Action and Infrastructure Remain a Priority
In response to the allegations, Hoskinson is now considering legal action against individuals spreading defamatory claims. He has consulted with a defamation law firm and is preparing strategies for possible lawsuits. The founder wants to address reputational harm and hold sources accountable for spreading false information.
Meeting with the defamation law firm next week to discuss options and strategy.
— Charles Hoskinson (@IOHK_Charles) July 20, 2025
At the same time, Hoskinson stressed that legal action will not delay the ADA audit or its livestream presentation. He reaffirmed his commitment to transparency while also prioritizing legal recourse to address false accusations. The dual strategy reflects IOG’s broader effort to ensure accountability through both technical proof and legal clarity.
Additionally, the ADA audit is just one of many initiatives underway to strengthen Cardano’s foundation and credibility. Hoskinson remains focused on long-term growth, highlighting that audit transparency is part of a wider plan. His statements also reinforce the need for structured ecosystem development beyond token price movement.
Stablecoins and Cardinal Drive Ecosystem Expansion
Hoskinson confirmed ongoing discussions with Circle and Tether on integrating USDC and USDT into the Cardano blockchain. While stablecoin inclusion offers broader utility, he noted that true DeFi growth depends on infrastructure and user participation. These developments reflect efforts to position Cardano as a competitive blockchain for finance.
Cardano also introduced Cardinal, a protocol connecting Bitcoin capital with Cardano smart contracts through a trustless, non-custodial model. The system enables BTC holders to lend, borrow, and trade using wrapped assets backed by a 1:1 peg. Cardinal aims to improve liquidity access while maintaining the original asset’s security features.
The ADA audit remains the centerpiece initiative ahead of August. Through it, Hoskinson seeks to validate Input Output Global’s transactions and rebuild community confidence.
