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Charles Hoskinson Defends IOG and Clarifies ADA Standing

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by A1

3 hours ago

Cardano founder Charles Hoskinson defended IOG amidst criticism concerning ADA fund management and network adoption efforts.

Hoskinson's Response to Criticism

Hoskinson stated that Input Output Global (IOG) earned its ADA instead of receiving it as a gift, emphasizing, 'No ADA was given to IOG. We earned it all.'

No ADA was given to IOG. We earned it all. It's not the people's money. It's profit for building Cardano. The original value of IOG's ADA was around $8 million in 2015.Charles Hoskinson

Comment on CF Employee

Hoskinson accused a former Cardano Foundation (CF) employee of attempting to 'rewrite history' regarding the network's stablecoin integration. He noted CF declined an offer to integrate USDC in 2021 for $3 million, which could have impacted network development.

Cardano's Future and Current Projects

Cardano is preparing for integration with BitcoinOS, potentially unlocking $1.4 trillion in liquidity. Developers are also advancing Midnight, a scaling project for the ecosystem.

Hoskinson's statements highlight ongoing tensions within the Cardano ecosystem as stakeholders address decisions impacting the blockchain's future.

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