A recently conducted audit of Cardano has addressed allegations against its founder Charles Hoskinson, confirming the legal handling of ADA tokens.
Audit Findings Confirm Legal Handling of ADA
The audit conducted by BDO and McDermott, Will & Schulte concluded its review of claims against the ADA voucher program. The comprehensive 128-page report found all allegations to be unfounded. The investigation examined the 2021 Allegra hard fork, the voucher program, and the flow of unredeemed ADA. Auditors reviewed thousands of internal documents, analyzed on-chain and off-chain data, and interviewed 18 IOG employees.
The findings revealed that 14,282 vouchers were redeemed, corresponding to 25,850,401,508 ADA, or approximately 25.9 billion tokens, making up 99.2% of all ADA sold via vouchers. By the end of the Byron era, 97% of tokens had already been used.
Hoskinson Demands Apology from Critics
Charles Hoskinson reacted to the audit findings by urging his critics to apologize publicly. He stated that the audit report has cleared the accusations and restored confidence in the governance of the voucher program. Hoskinson remarked, "Waiting for the apologies to come rolling in...".
ADA Market Remains Stable Post-Audit
Despite the successful conclusion of the audit, ADA's price remains at **$0.81**, down by **1.44%** over the past 24 hours. Technical analysis indicates that a breakout above the $0.84 resistance is needed for potential upward movement.
The Cardano audit has confirmed the legality of the handling of ADA tokens and refuted the accusations against Hoskinson. Nonetheless, the token's price continues to experience market pressure.
