Cardano’s IOG Treasury Audit Nears Completion
Cardano founder Charles Hoskinson has confirmed that the much-anticipated audit report of Input Output Global’s (IOG) ADA holdings is close to completion and is expected to be released publicly by mid-August 2025.
In a statement shared on social media, Hoskinson said he had received the initial draft of the audit and has requested additional transparency and detail in several sections. “It’s shaping up quickly,” he noted, indicating that the timeline remains on track barring any unexpected delays.
Audit Initiated After $600 Million ADA Allegation
The move toward transparency follows earlier allegations that $600 million worth of ADA had been mishandled or misappropriated by IOG. In response, Hoskinson announced in May that an independent audit would be conducted to verify the firm’s ADA treasury.
He denied the claims, stating:
“IOG never gave itself 350 million unclaimed ADA. This is a lie,” adding that most unclaimed ADA was either claimed or donated to Intersect after the seven-year claim period expired.
Livestream Reading and Dedicated Website for Full Report
Once the final audit report is complete, Hoskinson has pledged to read the entire document live on stream for the Cardano community.
“I will read the entire report via a livestream once it becomes available,” he confirmed. A dedicated website will also host the full audit along with historical materials related to the initial ADA sale, ensuring easy public access.
Legal Options Under Consideration for Defamation Claims
The situation has escalated beyond internal community discourse. In addition to the audit, Hoskinson has confirmed a meeting with defamation lawyers, citing ongoing damage from false allegations.
The accusations, which surfaced in early May, alleged that Hoskinson manipulated the Cardano ledger using a “genesis key” during the 2021 Allegra hard fork to control over $600 million in ADA—claims he has strongly denied.
What Comes Next for Cardano?
As ADA trades around $0.83, market watchers are waiting to see whether the audit report will restore broader trust in the project.
Hoskinson’s proactive approach could play a key role in rebuilding community confidence as Cardano moves into its next growth phase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.