Charles Hoskinson Ready to Prove Hand Hygiene with ADA Audit Awaited

Jakarta, Pintu News – Charles Hoskinson, founder of Cardano, has announced that an audit report regarding the management of the ADA token will be released in mid-August. This is a transparency move following allegations of misappropriation that surfaced a few months ago. The report is expected to clear Hoskinson’s good name and increase public confidence in Cardano.

Announcement of Audit Report Release Schedule

Charles Hoskinson recently revealed through a post on X that an audit report regarding the management of ADA tokens from 2021 will be released soon. The report is expected to answer all the doubts raised regarding the management of funds by Input Output Global (IOG), the company behind the Cardano blockchain. Hoskinson stated that he had received the first copy of the audit report and requested additional details in some important areas.

According to Hoskinson, if everything goes according to plan, the audit report will be released in mid-August. He is committed to full transparency by reading the entire report live via livestream broadcast. Additionally, a dedicated website will be created to make it easier for the Cardano community to access the report.

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Market Response and Legal Action Plan

Following the announcement about the upcoming audit report, Cardano’s price increased by 4.19% to $0.86, following the positive trend happening in the overall crypto market. On the other hand, Hoskinson also revealed his plans to meet with a defamation law firm, responding to allegations that have caused “hundreds of millions of dollars worth of brand damage to Cardano”.

These allegations have sparked debate in the community, with some members concerned that a lawsuit against the accusers could have a negative impact on Cardano’s image. Despite these concerns, Cardano continues to attract institutional interest. For example, Coinbase recently launched a wrapped ADA in Base to increase Cardano’s DeFi utility following the Leios update.

Community Reaction and Impact on Liquidity

Reaction from the community to Hoskinson’s plan to convert ADA reserves into stablecoins to address Cardano’s liquidity issues has been mixed. Some community members support the move as a practical solution, while others are concerned about the potential negative impact on the value of ADA.

These concerns add complexity to an already complicated situation with allegations of misappropriation. However, support from large institutions like Coinbase shows that Cardano still has a strong place in the crypto market. Measures such as the launch of the wrapped ADA aim to expand Cardano’s use and integration within the wider digital finance ecosystem.

Conclusion

With the upcoming release of the audit report, Charles Hoskinson hopes to restore trust and support Cardano’s continued growth. The transparency and legal action taken by Hoskinson demonstrates his commitment to the integrity and sustainability of the platform he has built.

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Reference

• Coingape. Cardano to Release ADA Holdings Audit in August with Hoskinson Leading Public Reveal. Accessed on July 21, 2025