Cardano Founder Denies Misusing Treasury Funds Amid Community Rift

Cardano founder Charles Hoskinson denies allegations of misusing treasury funds to finance other projects. The claims were made by SLR Cardano Stake Pool on X, but Hoskinson emphasizes that Cardano's treasury is governed by a decentralized voting system that prevents any individual from misappropriating funds. Despite controversy, Hoskinson remains active on the policy front, participating in regulatory discussions and engaging with global governance issues.

Cardano's founder, Charles Hoskinson, has responded to recent allegations that he misused treasury funds to finance other projects. The claims were made by the SLR Cardano Stake Pool on X, but Hoskinson has emphasized that Cardano's treasury is governed by a decentralized voting system that prevents any individual from misappropriating funds. Despite the controversy, Hoskinson remains active on the policy front, participating in regulatory discussions and engaging with global governance issues.

The allegations stem from a social media post by SLR Cardano Stake Pool, which accused Hoskinson of redirecting Cardano treasury funds to support other projects, including Midnight. However, Hoskinson has publicly denied these claims and highlighted inconsistencies in how the community treats him compared to the Cardano Foundation. He wrote, "Love seeing the ‘Charles is the enemy’ followed by ‘We have a great time with the CF.’" This post emphasized what he sees as unequal treatment and internal cultural issues.

The accusations remain unverified and are based solely on social media claims without official evidence. The latest claims suggest Hoskinson misused treasury funds, but there is no confirmation or audit to support them. These remain social media posts and lack documentation or third-party validation. Therefore, their impact depends heavily on community reaction and perception.

Hoskinson's response to the allegations comes amidst ongoing governance tensions between Input Output Global (IOG), the Cardano Foundation, and community stakeholders. The dispute follows a Cardano Foundation proposal to cut 31 million ADA from the 2025 ecosystem budget, escalating tensions over budget allocations. The community response has been mixed, with some stakeholders criticizing Hoskinson and IOG while others question the Cardano Foundation's governance structure and accountability.

Despite the controversy, Hoskinson continues to engage with broader regulatory efforts. He recently contributed to a roundtable discussion on the Clarity Act, focusing on digital asset regulation. This initiative aims to establish unified guidelines for issuers, exchanges, and investors. The Clarity Act outlines how stakeholders will follow a single legal framework under U.S. law. Hoskinson’s involvement in regulatory discussions shows his continued advocacy for blockchain development.