Cardano founder Charles Hoskinson confirms the upcoming audit report on ADA tokens will be released by mid-August, focusing on the ongoing allegations.
Preparing for IOG Audit
Charles Hoskinson recently announced plans for a transparent audit of ADA tokens at Input Output Global (IOG). He acknowledged receiving a draft of the audit but requested more information before its publication. The audit is expected to be presented by mid-August.
'I've just received the first copy of the audit report. I've requested much more detail and context in several areas, but it's shaping up quickly. I believe we are on track for a mid-August release, assuming the work continues at this pace.'
Hoskinson's Legal Threats
Amid preparations for the audit's release, the Cardano founder is meeting with defamation lawyers regarding accusations from earlier this year. Anonymous sources alleged that Hoskinson misappropriated 350 million unclaimed ADA tokens, which he strongly denies.
'Hundreds of millions of dollars in brand damage have occurred,' he claimed in a recent post.
Resilience of Cardano Blockchain
Despite this controversy, Cardano has shown resilience in its market position. Following Hoskinson's post, the price of ADA surged 4.19% to $0.86, demonstrating a broader crypto market rally.
Additionally, Coinbase has recently introduced wrapped ADA on its Base network, expanding Cardano’s presence in the DeFi space.
Charles Hoskinson is set to release an audit on IOG’s ADA management and considers legal actions over allegations. Despite the ongoing controversy, ADA's price continues to rise along with institutional support for the blockchain.
