Cardano faces scrutiny over $600M ADA as founder rejects claims

The Cardano (ADA) Foundation is preparing to release an audit report on its treasury holdings following allegations of misappropriating around $600 million worth of ADA tokens, according to Cointelegraph. Cardano founder Charles Hoskinson faces renewed scrutiny from community members, including NFT artist Masato Alexander, who accused him of using a “genesis key” to rewrite the ledger and seize $619 million in tokens. Hoskinson has denied the claims and said the audit report will be published in response to the backlash.