Key Takeaways:
- Core allegations given clarity: The audit focuses on accusations that Hoskinson controlled approximately 318 million ADA during the 2021 Allegra fork.
- Audit release confirmed: Hoskinson reaffirmed a draft received and final report remains scheduled for mid-August 2025.
- Public engagement planned: Hoskinson is expected to do a public livestream to read and explain the full report upon publication for transparency.
- Market impact mild: ADA trades at modest 24H movement (+3.8%) with no major volatility data.
On July 20, 2025, Charles Hoskinson, co-founder of Cardano, announced via X and interviews that the draft audit report addressing concerns over 318 million ADA funds allegedly accessed via a genesis key during the 2021 Allegra fork has been received and is being finalized. The final release is expected mid-August, assuming no delays.
These investigations follow accusations by NFT artist Masato Alexander, who claimed the 2021 ADA activity involved unauthorized handling of funds worth ~$600 million. Hoskinson has denied the charges, stating those ADA were either redeemed by original holders or donated to Intersect, Cardano's governance body.
Hoskinson anticipates a seamless release, provided the schedule remains on track
On his X post, Hoskinson noted:
I just received the first copy of the audit report. I requested a lot more detail and context in several areas, but it’s shaping up quickly. I believe we are on schedule for a mid‑August release, assuming the work continues at this pace and there are no delays.
According to CoinTelegraph, Hoskinson plans a livestream to read the report publicly, emphasizing transparency.
Market Impact
ADA currently trades around $0.8495, up 3.8% over 24 hours, with an intraday range of $0.813–$0.847. Price action has remained stable despite the audit timeline announcement, indicating calm market sentiment.
From a wider viewpoint
This audit aligns with Input Output Global’s broader governance strategy. It follows Hoskinson’s earlier May 19 announcement to audit IOG’s treasury after dismissing $600M misappropriation claims. He responded to the community’s scrutiny by stating he felt “deeply hurt.”
What’s next?
The mid-August report release remains on schedule. Hoskinson’s planned livestream marks a key transparency milestone. While short-term market impact has been muted, all eyes now turn to early August updates and the final audit report for conclusive resolution.
Summary
Cardano co-founder Charles Hoskinson confirmed that the independent audit regarding 318 million ADA allegedly linked to him during the 2021 Allegra fork remains on schedule for release by mid-August. The audit addresses community concerns raised by NFT artist Masato Alexander, who alleged up to $600 million in misappropriated funds. Hoskinson denied the claims, stating the tokens were either claimed or donated. ADA’s price remained stable, up 3.8% in 24 hours. A public livestream of the audit findings is expected, reinforcing transparency and aiming to restore community trust.
