Cardano Founder Announces Mid-August Release of ADA Audit Report

Cardano founder Charles Hoskinson has announced that the audit report for Input Output Global’s (IOG) ADA holdings is progressing well and is expected to be released in mid-August. In a recent post, Hoskinson revealed that he had received the first copy of the audit report and had requested additional details and context in several areas. Despite these requests, he noted that the report is shaping up quickly and is on track for a timely release.

Hoskinson's announcement comes as part of the ongoing efforts to ensure transparency and security within the Cardano ecosystem. The audit report, which is expected to be released in mid-August, is a crucial step in maintaining the trust and confidence of the Cardano community. The report will provide a comprehensive overview of the ADA's financial health and operational integrity, addressing any concerns or questions that stakeholders may have. Hoskinson's involvement in the audit process underscores his commitment to upholding the highest standards of transparency and accountability within the Cardano network.

The progress of the audit report is a positive sign for the Cardano community, as it demonstrates the project's dedication to maintaining a high level of transparency and security. The report's release in August will provide valuable insights into the ADA's financial health and operational integrity, helping to build trust and confidence among stakeholders. As the crypto market continues to evolve, the timely release of the audit report will be an important milestone for Cardano, reinforcing its position as a leading player in the blockchain industry.

Hoskinson's announcement also comes in response to allegations of misappropriation of funds within the Cardano ecosystem. In May, Hoskinson denied allegations that $600 million in Cardano (ADA) had been misappropriated, stating that the community's mistrust had deeply hurt him. He also clarified that IOG never gave itself 350 million unclaimed ADA, and that the remaining forfeited ADA was donated to Intersect. Hoskinson's commitment to transparency and accountability is evident in his decision to release the audit report and address these allegations head-on.

In addition to the audit report, Hoskinson has also announced that he will comprehensively explain the audit over a livestream when it is published. He plans to read the entire report via a livestream and host it on a dedicated website, along with other historical artifacts from the sale. This move is aimed at providing maximum transparency and ensuring that all stakeholders have access to the information they need to make informed decisions.

Hoskinson has also suggested that he is exploring legal action against those behind the allegations. He mentioned that he will be meeting with a defamation law firm to discuss options and strategy. This move underscores his commitment to protecting the reputation of the Cardano ecosystem and ensuring that any false allegations are addressed appropriately.