Charles Hoskinson Defends Input Output Global's ADA Holdings

According to Odaily, Cardano founder Charles Hoskinson recently addressed criticisms regarding Input Output Global's (IOG) ADA holdings and network adoption efforts. In a statement on X, Hoskinson clarified that no ADA was 'gifted' to IOG, emphasizing that the holdings were earned through building Cardano, not from public funds. He noted that the original value of IOG's ADA holdings was approximately $8 million in 2015, and the company has been developing the ecosystem for nine years. Hoskinson also highlighted that the Cardano Foundation (CF) received ADA as donations, which they are obligated to use for the ecosystem, marking a distinction between the two entities. Additionally, he pointed out that CF missed an opportunity in 2021 to integrate USDC for $3 million, despite holding assets valued at nearly $2 billion at the time.