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Cardano Founder Clarifies 1,096 BTC Used for Audit Costs in 2016-2017, Now Worth $70M

GateNews
Project Progress
ADA-1.69%
BTC-0.47%
Cardano founder Charles Hoskinson responded to questions about 1,096 Bitcoin tied to the project's early funding, explaining the funds were used to pay audit costs for the original ADA crowdsale in 2016 and 2017. The Bitcoin was allocated to compensate three auditors: Michael Parsons (then Cardano Foundation chairman), John Maguire, and Bruce Milligan. Worth approximately $400,000 to $454,000 at the time, the same amount is valued at roughly $70 million at current market prices. Thomas Braziel, founder of 117 Partners, acknowledged the explanation as more specific than prior responses but called for supporting documentation, including invoices and payment records, to substantiate the asset trail.
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In-Depth Analysis

Hoskinson Explains Cardano's 1,096 Bitcoin Usage as Investor Demands Records

Ethan Brooks06-15 08:14

Cardano founder: 1,096 BTC was used for 2016 audit fees, and he was asked to disclose invoices and records

Market Whisper06-15 01:57
Comment
0/400
GettingRichDependsOnvip
· 06-15 23:35
The founder of ADA is a maniac. After a while, he tries to mess things up again—he can’t get past the wall, but anyway he’ll go on Twitter and curse a few times.
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