117 Partners CEO calls on Cardano Foundation to disclose use of 1,090 BTC

Thomas Braziel, CEO of crypto investment and advisory firm 117 Partners, has called for the Cardano (ADA) Foundation to disclose its use of Bitcoin (BTC). In a post on X, Braziel stated that after reviewing corporate registration documents and the official Cardano website, he found that the foundation's initial entity, the Manx Foundation, was established during its 2015 ICO with Cardano founder Charles Hoskinson serving as a director. This foundation appears to have received approximately 1,090 BTC. Braziel noted that since the foundation was dissolved in December 2025, it needs to release documents related to its governance and the use of the BTC. He clarified that he is not currently alleging any wrongdoing but is demanding a higher level of transparency.