On-Chain Analysis Revives Accusations of Cardano Founder Selling 1.5B ADA During 2021 Bull Run

According to The Defiant and on-chain analysis by NFT creator Masato Alexander on June 11, new transaction tracking has raised accusations that Cardano founder Charles Hoskinson sold approximately 1.5 billion ADA during the 2021 bull market. The analysis identified shorter connection paths between large ADA transactions and IOG-related staking pools, reducing intermediaries from roughly 40 steps to 1–7. Tracked transactions included one transfer of 925 million ADA and nine separate payments of 20 million ADA each.

The Cardano Foundation responded, stating it has no insight into IOG-related transactions and finds no reason to assume misconduct by other founding entities, including Hoskinson. ADA is currently trading at $0.1623, down 42% over the past 30 days and 94.74% from its September 2021 all-time high of $3.09.