Charles Hoskinson Releases Timeline for ADA Holdings Audit

Cardano founder Charles Hoskinson has confirmed that an official audit into ADA token holdings is nearing completion, with the full report expected to be published in mid-August.

Audit to be publicly shared

In a post on X, Hoskinson stated that he has received the initial copy of the audit report, which reviews Input Output Global’s ADA holdings dating back to 2021. However, he’s pushing for more clarity and context in several key areas before making the report public.

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.

I will read the…

— Charles Hoskinson (@IOHK_Charles) July 20, 2025

Hoskinson has pledged full transparency, promising to livestream a full reading of the report and to publish it on a dedicated website for the Cardano community. IOG’s Chief Legal Officer Joel Telpner also confirmed the timeline, although the names of the law and audit firms involved remain undisclosed.

This development comes just three months after Hoskinson faced serious allegations of misappropriating 350 million unclaimed ADA tokens. The audit is expected to provide concrete data on IOG’s holdings and help clear the air around these accusations.

Cardano price reacts

Following Hoskinson’s announcement, ADA’s price jumped 4.19%, trading at $0.86. The rally coincides with broader bullish sentiment across the crypto market, but observers note the audit news may be adding specific momentum to Cardano.

Hoskinson also revealed that he’s meeting with a defamation law firm to explore legal action against those who made the original accusations. He claims that the allegations have caused “hundreds of millions of dollars of brand damage against Cardano.”

Still, some community members warn the move could backfire. Critics argue that suing blockchain users might be framed poorly by the media and risk undermining Cardano’s decentralized ethos. As the mid-August deadline approaches, the Cardano community awaits the audit report with high anticipation. Whether the release puts the controversy to rest, or adds fuel to the fire, will depend on the report’s clarity, completeness, and the community’s response.