Cardano founder Charles Hoskinson has dismissed new inquiries into the transparency of the audit on 318 million ADA from unredeemable presale vouchers, saying the matter is closed. The dismissal followed a social media post seeking clarity on how the asset worth $50 million was handled.
Darkhorse argued that true transparency requires DAO approval and on-chain governance for movements of such large sums. He queried whether the money appeared in the treasury and how expenses were defrayed. He described the audit document as an “internal review,” not a forensic governance-level audit, and called for more rigorous testing of governance failures. Separately, Hoskinson faced accusations of dumping ADA on the market, which have led to losses.
Supporters say the matter is adequately resolved and that focus should shift to growing the asset, while critics say governance standards remain unsettled. Cardano has suffered an 88% decline and trades below $0.40. There were rumors that he sold ADA near the top when it exchanged hands at $3 in 2021, which he denied, calling it “made-up noise” and a lie. As of press time, Cardano traded at $0.3748, up 0.35% in the last 24 hours.
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