On-chain analysis is prompting speculation that Cardano co-founder Charles Hoskinson sold approximately 1.5 billion ADA in 2021, while publicly advocating for the token.
NFT creator Masato Alexander published new on-chain tracing work this week claiming that large ADA transactions during the 2021 market rally can be traced through a shorter chain of hops than previously established, reviving allegations that Hoskinson sold approximately 1.5 billion ADA during the period when the token hit its all-time high.
Hoskinson has made no public statement in response to the new analysis, and did not respond to a request for comment from The Defiant.
The Cardano Foundation said in an emailed response, "Cardano has three distinct founding entities. IOG, Emurgo and the Cardano Foundation. Our role at the Foundation is to advance the Cardano blockchain.
While we have no insights into the reported transactions by IOG referenced in this X thread, we have no reason to assume anything other than professional conduct and best intentions from the other founding entities, including Charles himself. We are fully committed to the long-term success of the Cardano blockchain."
