He added:
“For a decade, I’ve been on the front lines. To not be given the benefit of the doubt here without strong evidence to the contrary means I don’t have the connection I thought with some people.”
Hoskinson added that following the release of an external audit, he intends to hand control of his social media account to a media team and scale back his direct engagement.
Alexander alleged that the subsequent Move Instantaneous Rewards (MIR) transaction diverted these funds without transparency or notification to the original voucher holders.
Hoskinson countered that investors redeemed 99.8% of ADA vouchers. The remaining 0.2%, recovered under protocol rules after a seven-year window, was donated to Intersect, the Cardano industry coordination body.
He added that an externally audited report would soon document the redemption history and crowdsale process. Hoskinson also said he would “send letters to the relevant parties demanding retractions and apologies.”
Alexander disputed the claim, citing a public statement by Intersect’s interim executive director that it received only $7 million in 2024, far less than the estimated $600 million value of the disputed ADA. He also criticized the lack of a detailed audit publicly tracing the fund flows.
“The effort to locate and support remaining voucher holders has been led by the IO team over the past four years.”
The foundation welcomed IOG’s pledge to release a third-party audit and recommended that it include all MIR transactions, balances, and any returns generated during fund administration.
Emurgo acknowledged:
“While the vast majority of the pre-sale ADA vouchers have been successfully redeemed, there was a small percentage that had gone unredeemed.”
The company added that the Shelley hard fork would have rendered unredeemed ADA unspendable, necessitating their movement to enable further redemptions.
The firm also expressed concern over “excessive, unwarranted FUD,” saying accusations based on limited facts caused unnecessary harm to the ecosystem. It echoed IOG’s call for an audit and urged the community to remain patient.
