21 May 2025, 11:30

Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation

Cardano, and specifically its founder Charles Hoskinson, has come under fire recently after allegations of fraud surfaced online. The rumors quickly spread as the integrity of the blockchain and its founder were called into question. As a result, Hopkinson has delivered a response, with a shocking revelation on how he plans to interact with the public and the community going forward. Alleged $619 Million Going Missing On May 7, 2025, an X user who goes by the name Masato Alexander made a shocking claim: 318 million ADA worth $619 million had been illegally moved and the finger was being pointed at Cardano founder Charles Hoskinson. Apparently, this had happened with the Allegra Hard Fork which took place back in 2021 as core functions of the blockchain were changed. Related Reading: Bitcoin Macro Trend Oscillator Shows When To Expect The Price Top Alexander claimed that Hoskinson had deployed code during what was thought to be routine upgrade with an extra payload. Allegedly, this allowed Hoskinson to erase the original ICO UTxOs which held a total of 318 million ADA and moved the funds to Cardano reserves that were controlled by private keys tied to Hoskinson. The transaction was done through an MIR transaction, which stands for Move Instantaneous Reward transactions. Essentially, Alexander claims that this allowed funds to be moved from reserves and then used for treasury and staking rewards purposes. These claims quickly drew the attention of the Cardano community, with Hoskinson himself responding under the post to denounce the rumors. He initially explained that the ADA vouchers of the users whose ADA were allegedly moved had become unspendable after the hard fork. Thus, they had been moved into a “custodial account controlled by the TGE that then continued redemption for 3 more years to distribute the genesis funds to the original buyers.” Furthermore, Hoskinson threatened legal action if Alexander did not stop making these claims. Cardano Founder Addresses Rumors Again After the initial interaction, Cardano founder Charles Hoskinson has once again come out to address the rumors of the missing $619 million. He first addressed the fact that people were quick to condemn him after the rumors surfaced without giving him the benefit of the doubt. This extended to friends who he says did not show up for him during this time. Related Reading: Pundit Says XRP Price Will Stabilize At $1,000 And Become ‘Very Expensive’ As for the rumors themselves, the founder explained that there will be a full audit and a report which will be published for the public to see. He further went on to reveal that the events of the past few weeks will change how he engages with the community from now. While Hoskinson does plan to continue to attend events and take pictures with people, he plans to hand over his X account to a media company. Additionally, he plans to change the format of how he holds his X Spaces and Ask Me Anything (AMAs). “Infinite accessibility just enables it to happen again and again,” the founder explained. Featured image from Dall.E, chart from TradingView.com

21 May 2025, 07:45

Vitalik Buterin hopes to raise Ethereum gas limit by 10 to 100 times

Responding to Succinct Labs’ real-time proving milestone in the ecosystem, Vitalik Buterin says the Ethereum team hopes to increase the Layer1 gas limit by ten to 100 times. In a recent post , Buterin commented on an X user’s skeptical take on an announcement from Succinct Lab’s co-founder Uma Roy about her team’s recent demo of a full “zkVM” proof system for the ecosystem’s execution layer. Although Buterin does congratulate the Succinct team on their progress, he proceeds to point out four areas that the project — as well as the wider network — needs to tackle in order to make real-time proving a reliable feature for users on the Layer1 . “So, truly amazing work by @pumatheuma and team, but definitely still a few steps to the final destination,” said Buterin. Buterin underlined how the Succinct Labs’ demo for real-time Ethereum ( ETH ) proving mechanism was tested out on average-case timings, not worst case tests. He emphasized the need for worst case timings in order to make the mechanism safe for wider L1 use. Moreover, he stated in his post that the Ethereum team aims to raise the Layer1 gas limit by 10 to 100 times its current rate. According to data from YCharts, Ethereum’s current average gas limit is at 35.99 million, a slight increase from yesterday’s average gas limit which stood at 35.98 million. “We wanna 10-100x the L1 gas limit,” said Buterin. Ethereum’s gas limit has reached 35.99 million in the past 24 hours, May 21, 2025 | Source: YCharts You might also like: Binance founder proposes lowering BSC gas fees by three to 10 times Buterin also said Succinct’s proving mechanism still lacks formal verification, which is necessary to assure users that it is seamless and relatively bug-free. Not only that, the real-time proving system still needs around 100 kilowatts of power to churn out proofs at the demonstrated speed. Buterin argued that to make it available for broader participation, the energy cost needed to generate proofs should be around as low as 10 kW. This way, the energy rate is home-use friendly and would enable small teams or individuals to run their own real-time proofs. What is Ethereum’s current gas limit? Compared to a year ago, on May 21, 2024, the ecosystem’s gas limit has increased by nearly 20%. The number increased by nearly 6 million from 30 million one year ago. If Ethereum does manage to raise its gas limit by 10 to 100 times, its gas limit could reach as high as 360 million to 3600 million. Ethereum’s gas limit represents the maximum gas units needed to process a transaction or smart contract on the network. It acts as a cap, preventing transactions from using excessive resources that could lead to high fees or generating congestion on the network. Even if real-time proving mechanisms become available on-chain, each one requires a considerable amount of gas. Therefore, in order to make it viable at scale, it would require a higher gas limit compared to what the network’s current block gas limit would allow. Last February, the Ethereum network raised its gas limit for the first time since 2021. The gas limit reached 32 million gas units, surpassing 30 million for the first time in nearly five years. At the time, around 51.1% of validators approved the gas limit adjustment without a hard fork. Read more: Ethereum adjusts gas limit for the first time since 2021

21 May 2025, 07:15

Monero price prediction 2025-2031: Should you buy XMR now?

Key takeaways: Monero price prediction suggests a bullish trend, with XMR anticipated to reach $608.32 by the end of 2025. XMR could reach a maximum price of $1,263.90 by the end of 2028. By 2031, Monero’s price may surge to $2,059.10. Monero (XMR) stands out in the cryptocurrency space for its strong focus on privacy and decentralization of transactions, making it one of the leading privacy focused cryptocurrencies . This makes it a popular choice for privacy advocates and those prioritizing security. The Monero ecosystem constantly evolves, marked by significant milestones like enhanced protocol upgrades and growing adoption across various sectors, which underscore its utility. As Monero progresses, many wonder about its future price trajectory. Will its unique features drive significant value growth, as many traders speculate ? Can it sustain its competitive edge in the ever-evolving crypto market? Will XMR recapture its ATH at $517.62 in the long term forecast ? Overview Cryptocurrency Monero Token XMR Price $364 (+4.5%) Market Cap $6.3 Billion Trading Volume (24-hour) $108.16 Million Circulating Supply 18,446,744.07 XMR All-time High $517.62 May 07, 2021 All-time Low $0.213, Jan 15, 2015 24-h High $365.14 24-h Low $344.59 Monero price prediction: Technical analysis Sentiment Bullish 50-Day SMA $241.34 200-Day SMA $203.72 Price Prediction $220.31 (-35.71%) Fear & Greed Index 73 (Greed) Green Days 21/30 (70%) 14-Day RSI 84.51 Monero price analysis TL;DR Breakdown Monero price shows a bullish trend toward $364 The XMR coin surged by over 4.5% at the time of writing. Monero price has support and resistance at $317 and $390, respectively. The Monero price analysis for May 21 shows high volatility as XMR price surged toward $364 following a bearish consolidation below $340. Buyers have shown swift recovery and the price is now holding above $360. Monero price analysis 1-day chart: XMR triggers bullish surge following bearish consolidation The 24-hour XMR/USD price chart indicates a mixed market sentiment as the altcoin observes an increase of more than 65% of its value in the last few days as XMR rose from the $220 price level to the $363 mark where it trades at press time. After consolidating within a bearish region around $340, buyers triggered a strong push toward $364. XMR Price Chart The indicators reflect the increasing bullish price sentiment, as all three major technical indicators show positive signs. The MACD is bullish at 0.65 units and shows rising bullish pressure at the current price level. The RSI also shares this sentiment as it surges toward 85 level. However, a bearish correction is expected soon as the RSI hovers within the overbought conditions. The diverging Bollinger Bands suggest higher volatility, indicating that the $373 resistance may not hold for the week. Monero price analysis 4-hour chart The 4-hour price chart shows that Monero spiked toward the $364 mark as buyers intensified their domination. Currently, they’re maintaining the price momentum above immediate Fib channels. Monero price analysis 4-hour chart The RSI is at 72.28, suggesting rising bullish momentum as the consolidates within a bullish region at $364 level. The MACD, at 1.7, shows rising bullish momentum on the 4-hour charts. Additionally, the EMAs are above the mean value, it suggests bullish market sentiment. These indicators collectively indicate a rising bullish trend above the $350 level, suggesting an immediate breakout of further resistance channels. Monero technical indicators: Levels and actions Daily simple moving average (SMA) Period Value Action SMA 3 $295.75 BUY SMA 5 $312.02 BUY SMA 10 $300.09 BUY SMA 21 $277.19 BUY SMA 50 $241.34 BUY SMA 100 $230.14 BUY SMA 200 $203.72 BUY Daily exponential moving average (EMA) Period Value Action EMA 3 $270.63 BUY EMA 5 $252.58 BUY EMA 10 $235.13 BUY EMA 21 $225.14 BUY EMA 50 $220.14 BUY EMA 100 $213.40 BUY EMA 200 $199.18 BUY What to expect from Monero price analysis? 4-hour price chart by Tradingview Monero price analysis shows that XMR saw a beautiful start to this week as the price rose to the $360. Currently the bulls hold strong as the XMR price maintains its ascending channel pattern. According to our analysis, we expect the XMR price to continue holding above the $360 mark after brief consolidation below the $340 mark. However, the bulls need to guard the $330 and $325 key support levels to prevent a fallback below the $320 price mark. Is Monero a good investment? Monero is an attractive investment because it emphasizes privacy and security, utilizing advanced cryptographic techniques to ensure transaction confidentiality. Its growing adoption across various use cases and a decentralized development model enhance its long-term potential. With a limited supply and increasing investor interest, Monero offers a unique opportunity for those seeking financial autonomy and privacy to invest in cryptocurrency. However, investors should remain cautious of regulatory risks and market volatility when considering Monero as part of their portfolio, making it essential to seek investment advice . Why is XMR up today? Monero price gained increased buying demand below the $340 dip. This resulted in a strong push toward $360 level, strengthening the buying domination. Will XMR recover to its all-time high? Monero is expected to recover toward its all-time high of $518 by mid-2026 as the privacy chain continues to reduce its tech debt and progresses toward greater utility and privacy. However, the platform might have to overcome regulatory scrutiny and challenges before it can see mass adoption. How much will Monero be worth in 5 years? The Monero price prediction for 2030 suggests a minimum price of $1,048.76 and an average trading price of $1,142.11 . The maximum forecasted price is set at $1,208.35. Will XMR reach $1000? The chance of Monero (XMR) hitting $1,000 hinges on various factors, which will influence its future price movements . The adoption of privacy transactions and technological advances could increase demand. Favorable regulations and market sentiment toward privacy coins would also help. Yet, regulatory risks, competition, and market volatility are challenges. $1,000 is possible with favorable conditions, especially considering the current price but market dynamics and regulations will shape its path. Does XMR have a good long-term future? Monero (XMR) has the potential for a strong long-term future due to its focus on privacy and security, which makes it attractive to users seeking anonymity. However, regulatory scrutiny and notoriety from being the favored medium for some past criminals impact the current monero sentiment, making it challenging to become the star of the market. Monero’s commitment to privacy gives it a solid foundation for long-term growth, but it must carefully navigate market and regulatory landscapes. Recent news/ opinion on Monero Monero recently announced the FCMP++ Optimization Competition to optimize the helioselene and ec-divisors libraries used in Monero’s upcoming Upgrade. The competition is now open to submissions. The FCMP++ Optimization Competition is now open for submissions! https://t.co/vca2GKXlNz — Monero (XMR) (@monero) May 1, 2025 Monero price prediction May 2025 The XMR price prediction for May 2025 suggests a minimum value of $240.57 and an average price of $276.58. The price could reach a maximum of $594.62 during the month, reflecting the broader category of digital assets . Month Minimum Price ($) Average Price ($) Maximum Price ($) May 240.57 276.58 594.62 Monero price prediction 2025 The Monero price prediction for 2025 anticipates a potential increase in the price of Monero upon adoption, resulting in a maximum price of $608.32. Based on the analysis, investors can expect an average price of $592.85, while the minimum price could be around $248.04. Year Minimum Price ($) Average Price ($) Maximum Price ($) 2025 248.04 592.85 608.32 Monero price prediction 2026-2031 Year Minimum Price ($) Average Price ($) Maximum Price ($) 2026 593.91 663.16 691.9 2027 814.07 978.83 1,006.07 2028 1,064.79 1,221.19 1,263.90 2029 1,064.79 1,221.19 1,263.90 2030 1,313.19 1,430.07 1,513.02 2031 1,866.21 2,019.61 2,059.10 Monero Price Prediction 2026 According to the XMR price forecast for 2026, Monero’s price is anticipated to reach a minimum trading price of $593.91. The potential maximum XMR price could be $691.90, with an average price of $663.16. Monero Price Prediction 2027 The XMR price prediction for 2027 will continue rising and exhibit minimum and maximum prices of $814.07 and $1,006.07, as well as an average price of $978.83. Monero Coins Price Prediction 2028 Monero’s price is expected to reach a minimum price of $1,064.79 in 2028. The maximum expected XMR price is $1,263.90, with an average price of $1,221.19. Monero Price Prediction 2029 The XMR price prediction for 2029 expects XMR to reach a minimum of $1,064.79. The XMR price can reach a maximum level of $1,263.90, with an average price of $1,221.19 throughout 2029. Monero Price Prediction 2030 The Monero price prediction for 2030 suggests a minimum price of $1,313.19 and an average trading price of $1,430.07. The maximum forecasted price is set at $1,513.02. Monero Price Prediction 2031 The Monero price prediction for 2031 suggests a minimum price of $1,866.21 and an average trading price of $2,019.61. The maximum forecasted price is set at $2,059.10. Monero Price Predictions 2025-2031 Monero market price prediction: Analysts’ XMR price forecast Firm 2025 2026 Coingecko $420.93 $568.19 Digitalcoinprice $349.23 $478.65 Cryptopolitan’s Monero (XMR) price prediction Cryptopolitan’s Monero price forecast suggests a bullish outlook for Monero’s future price should the market recover soon. According to our expert analysis, XMR might record a maximum price of $608.32 , a minimum price of $248.04 , and an average price of $592.85 at the end of 2025. Monero historic price sentiment Monero’s market value has changed dramatically since its launch in 2014, from less than $1 to over $475. May 2021 marked the highest point in Monero’s history. Monero’s price projections revealed the coin’s security. They provide investors with optimism that they will be freed from the persecution of some authorities simply by buying or selling Monero. Monero price history; Source: Coinmarketcap Across 2023, Monero’s price rose by 11.49%. The highest price was $278.56, and the lowest was $114.16. In January 2024, Monero stayed stable around the $150.00 mark as market momentum remained low. However, the stability was short-lived as February crashed to $101.95. However, XMR showed swift recovery as it closed the month near the $150.00 level again. In March and April 2024, XMR saw a steady decline from $150.00 to $120.00, where it found key support. In May 2024, XMR observed steady bullish pressure as the price rose from $120.00, approaching resistance at $150. In June 2024, Monero (XMR) traded within the $150 – $175 price range as either side struggled to make a clear breakthrough. In July, the crypto traded around the $155 mark as the price volatility remained relatively low. XMR opened trading at $156.05 in August and ended the month at $176.00, making remarkable gains. September was bearish for the asset, as the price declined below the $160 mark by the end of the month. In October, Monero observed a steep crash and has been making a swift recovery since then. In December, Monero made remarkable strides as the asset’s price broke past the $220 mark, albeit briefly as it closed the month below $200. In January, Monero saw a bullish January as the price rose from below the $200 mark to $238 by the end of the month. In February, the price fell towards the $215 mark as bears dominate the markets. In March, the price observes mixed momentum and closed the month slightly below $215. In April the consolidation continued late into the month before spiking past the $325 mark before ending the month around $275.

20 May 2025, 21:15

Qubetics Breaks $17.1M in Presale, Monero Climbs 2.88%, and AAVE Smashes Records—Best Token to Invest Now?

A sudden surge in regulatory clarity from major global financial authorities has sparked a wave of activity across cryptocurrency markets, stirring increased attention on tokens that demonstrate resilience and real-world utility. This heightened scrutiny focuses particularly on projects with robust technical foundations and practical applications amid ongoing volatility. Notably, Qubetics ($TICS) is attracting considerable attention as it enters its 35th crypto presale stage, signaling growing adoption and a potential turning point in decentralized finance. Identifying the best token to invest now is critical as digital assets grow to meet these new demands. Meanwhile, Monero continues to innovate with protocol upgrades and expanding DeFi ecosystems, maintaining its status as a critical infrastructure for decentralized applications. Alongside, AAVE’s thriving lending protocols and cross-chain integrations are reinforcing its role in the DeFi lending market. These developments underscore the importance of recognizing the best token to invest now for portfolios focused on sustainable growth. Qubetics addresses persistent challenges in blockchain usability and cross-chain compatibility that many predecessors have yet to fully solve. Its Non-Custodial Multi-Chain Wallet offers streamlined access for businesses, professionals, and individuals, aligning with future demands for secure, scalable, and user-friendly digital finance tools. Such innovations highlight why Qubetics emerges as a standout choice among the best tokens to invest now. Qubetics ($TICS): The Non-Custodial Multi-Chain Wallet Revolutionizing Blockchain Access The core innovation lies in Qubetics’ Non-Custodial Multi-Chain Wallet, designed to provide seamless and secure access across various blockchain networks without relinquishing private keys. This wallet facilitates easier transactions and asset management for a diverse user base: Businesses can manage cross-border payments efficiently while retaining full control of their digital assets. Professionals benefit from streamlined multi-chain portfolio oversight, enhancing operational productivity. Individuals gain a user-friendly interface that reduces the complexity traditionally associated with multi-chain wallets. This architecture mitigates risks associated with centralized custody and aligns with increasing demand for sovereignty in digital finance. The wallet’s interoperability across multiple chains addresses the fragmentation issue pervasive in the current ecosystem, positioning Qubetics as a practical solution aligned with emerging blockchain needs. Qubetics ($TICS) is currently in its 35th crypto presale stage, having successfully sold over 513 million tokens to more than 26,700 holders and raised upwards of $17.1 million. Priced at $0.2785 per token in this phase, Qubetics exemplifies a project gaining traction through real-world utility rather than speculative hype. Analysts forecast a significant return on investment, estimating $TICS could reach $1 post-presale (258% ROI), with potential growth to $5 (1694% ROI) and up to $15 after the mainnet launch (5284% ROI). Latest Qubetics Partnership and Presale Update: Driving Adoption Forward Recent strategic partnerships have bolstered Qubetics’ market presence. Integration discussions with leading blockchain infrastructure providers aim to enhance wallet compatibility and scalability. Such collaborations underscore Qubetics’ commitment to delivering a robust, multi-chain solution that transcends isolated blockchain silos. As the crypto presale progresses, sustained community engagement and positive analyst coverage amplify interest. The ongoing demand reflects recognition of Qubetics as one of the best tokens to invest now, particularly given its unique positioning in solving long-standing usability barriers. Aave Hits $31B Supply Milestone as Leverage and Demand Surge Aave has surpassed $31 billion in total supply, marking a new all-time high as leveraged activity on the protocol intensifies. This surge reflects growing confidence and adoption from both retail and institutional users, signaling robust ecosystem engagement. The simultaneous rise in total debt underscores increased borrowing demand, while the introduction of features like Aave Interface V4 further solidifies the platform’s position as a leading DeFi lending protocol. These developments point to a strong growth trajectory as Aave continues to innovate and expand its user base. Monero (XMR) Gains Momentum with 2.88% Daily Rise as Market Cap Surpasses $6.5 Billion Monero (XMR), the leading privacy-focused cryptocurrency, saw a 2.88% price increase in the past 24 hours, bringing its value to $353.86 and pushing its market capitalization to $6.52 billion. With a fully diluted valuation matching its market cap and a total circulating supply of 18.44 million XMR, Monero continues to maintain its appeal in the decentralized finance space despite growing regulatory scrutiny. The 24-hour trading volume stood at $98.47 million, reflecting modest market activity with a volume-to-market cap ratio of 1.5%. Ranked #23, XMR’s strong profile score of 67% underscores sustained investor confidence in its long-term utility as the go-to option for secure and untraceable digital transactions. Understanding Non-Custodial Multi-Chain Wallets: The Qubetics Advantage Non-custodial wallets allow users to retain sole ownership of private keys, ensuring control and security. Qubetics’ Non-Custodial Multi-Chain Wallet advances this concept with features tailored for diverse user needs: Multi-chain compatibility : Supports transactions and asset management across multiple blockchain networks. Enhanced security : Private keys never leave the user’s device, reducing exposure to hacks. User-friendly interface : Simplifies complex operations to encourage adoption by non-technical users. Cross-border transactions: Facilitates seamless international payments with minimal friction. Integration capabilities : Works with existing financial and business applications for streamlined workflows. This wallet technology addresses fragmentation and custody risks prevalent in digital finance, aligning with regulatory trends emphasizing user sovereignty and data privacy. Conclusion: Navigating 2025’s Crypto Market with Informed Choices Amid growing market dynamics and regulatory clarity, selecting the best token to invest now requires a blend of technical insight and awareness of real-world applicability. Qubetics stands out by directly addressing usability and interoperability challenges, supported by strong crypto presale momentum and strategic partnerships. Monero’s ongoing protocol enhancements. Meanwhile, AAVE’s advances in DeFi lending and cross-chain integration reinforce its significance in financial decentralization. Actively monitoring developments in wallet technology, protocol upgrades, and ecosystem partnerships can guide more informed decisions. Keeping abreast of verified data sources and expert analyses will further aid in identifying tokens that meet flourishing blockchain and digital finance needs, securing a position in the competitive market of the best token to invest now. For More Information: Qubetics: https://qubetics.com Presale: https://buy.qubetics.com Telegram: https://t.me/qubetics Twitter: https://x.com/qubetics Frequently Asked Questions What makes Qubetics’ wallet different from others? Qubetics offers a Non-Custodial Multi-Chain Wallet combining security, usability, and cross-chain compatibility, facilitating easier digital asset management for various users. Why is AAVE considered a top DeFi lending platform? AAVE integrates cross-chain support, rigorous security audits, and expanding asset pools, making it a reliable decentralized lending protocol. Is Qubetics’ presale still active? Yes, Qubetics is in its 35th presale stage with tokens available at $0.2785 and growing community participation. What risks should be considered when investing in crypto tokens? Market volatility, regulatory changes, and smart contract vulnerabilities pose risks that require careful evaluation before investment. The post Qubetics Breaks $17.1M in Presale, Monero Climbs 2.88%, and AAVE Smashes Records—Best Token to Invest Now? appeared first on TheCoinrise.com .

20 May 2025, 14:46

Cardano (ADA) spot ETF approval odds spike to 64%

The probability of a spot Cardano ( ADA ) exchange-traded fund ( ETF ) being approved has surged as investors await a decision from the Securities and Exchange Commission (SEC). Specifically, market-implied odds for a 2025 approval have risen to 64%, representing a 54% increase in bullish sentiment compared to earlier this year, according to insights from the betting platform Polymarket. ADA spot ETF approval odds. Source: Polymarket This spike in optimism comes as the SEC approaches a key deadline on May 29 to approve, deny, or extend its decision on Grayscale’s proposed Cardano ETF. Notably, ADA ETF approval odds fluctuated throughout Q1 and early Q2. However, recent regulatory developments, such as appointing crypto-friendly Paul Atkins as the SEC chair, have strengthened investor confidence. SEC’s extended ETF decision On February 24, the SEC acknowledged NYSE Arca’s proposal to list and trade the Grayscale Cardano Trust shares, formally starting the regulatory review process. That triggered a standard 45-day extension, pushing the decision deadline to May 29. While such extensions are routine, the market appears increasingly hopeful for approval. Currently, 72 crypto-related ETF applications are pending with the SEC. Only two are Cardano-specific: the Grayscale Cardano Trust and the Tuttle Capital 2X Cardano ETF, a leveraged product. If approved, these ETFs would mark a significant milestone for ADA, potentially boosting institutional adoption and lending greater legitimacy to the asset. Meanwhile, momentum surrounding the ADA ETF continues to build, despite controversy involving founder Charles Hoskinson. On May 7, NFT artist Masato Alexander accused Hoskinson of misusing access during the 2021 Allegra hard fork to transfer 318 million ADA from unclaimed 2017 ICO tokens, with only $7 million allegedly reaching the governance group Intersect. In 2021, Charles Hoskinson unilaterally used his genesis keys to REWRITE the Cardano ledger and take control of ₳318m ($619m) By comparison, when the DAO hack happened in 2016, the Ethereum community forked over $60m. One of the largest ledger reorgs in blockchain history: 🧵 — masato_alexander (@masatoalexander) May 7, 2025 Hoskinson has denied the allegations, calling them false and affirming that over 99.8% of ICO tokens were redeemed correctly. ADA price analysis ADA was trading at $0.73 at press time, down about 0.5% daily and over 7% weekly. ADA seven-day price chart. Source: Finbold Despite the short-term bearish sentiment, ADA remains above its 50-day and 200-day moving averages ( SMA ), indicating a generally bullish trend. The 14-day Relative Strength Index ( RSI ) also stands at 50.45, signaling neutral momentum. Despite a Fear & Greed Index reading 71, market sentiment is also neutral, reflecting greed. Featured image via Shutterstock The post Cardano (ADA) spot ETF approval odds spike to 64% appeared first on Finbold .

20 May 2025, 10:23

Charles Hoskinson Orders Full Audit of IOG Amid $600M ADA Misuse Allegations

The post Charles Hoskinson Orders Full Audit of IOG Amid $600M ADA Misuse Allegations appeared first on Coinpedia Fintech News Cardano is under intense scrutiny as founder Charles Hoskinson Charles Hoskinson Charles Hoskinson is an American entrepreneur and blockchain visionary. He co-founded IOHK, and Cardano (ADA), a blockchain project. He also co-founded the Ethereum blockchain platform.With the help of Cardano’s proof-of-stake (PoS) blockchain, Charles weighs on scalability, security, and interoperability to facilitate enterprise blockchain adoption. He directs research in Web3, cryptocurrency innovation, and decentralized governance through IOHK.Quick FactsFull NameCharles HoskinsonBirth05-11-1987 in Hawaii, United StatesNationalityAmericanEducationUniversity of Colorado Boulder, Metropolitan State University of DenverMarital StatusUnmarried as of 2025Net WorthEstimated around $700 millionCharles Hoskinson's work in cryptography, digital assets, and blockchain promotion has recognized him in the crypto. His efforts in developing blockchain have greatly contributed to the advancement of DeFi and blockchain networks globally.Charles Hoskinson - Professional Career Timeline2013 – Co-founded Ethereum (ETH), contributing to smart contracts and decentralized applications.2014 – Left Ethereum over governance disputes and founded IOHK (Input Output Hong Kong).2015 – Started developing Cardano (ADA), a third-generation blockchain with a proof-of-stake (PoS) model.2017 – Launched Cardano mainnet, introducing scalable and secure blockchain solutions.2019 – Led Cardano’s Shelley upgrade, enhancing network decentralization and staking rewards.2021 – Rolled out Alonzo hard fork, enabling smart contracts and DeFi on Cardano.2022 – Expanded Web3, governance, and blockchain adoption via Cardano’s Vasil hard fork.2023 – Advocated financial inclusion and blockchain education in Africa and developing nations.2024 – Advanced self-sovereign identity and on-chain governance with Cardano’s latest updates.Present – Continues shaping blockchain innovation, DeFi, and decentralized ecosystems through IOHK.He has collaborated with various tech experts and blockchain startups. Charles sees decentralized finance as a tool for financial freedom. He also educates crypto beginners through social media sites, conferences, and tech channels.Useful Links to Connect With Charles HoskinsonPlatformLinkX (formerly Twitter)Charles Hoskinson (@IOHK_Charles) / XLinkedIn profileCharles Hoskinson - Self-employed | LinkedInCardano FoundationCardano FoundationYouTube profilehttps://www.youtube.com/c/charleshoskinson Chief Executive Officer announces a full audit of Input Output Global (IOG) following serious allegations of ADA token misappropriation worth over $600 million . What Sparked the $600M ADA Controversy? The controversy began when Cardano community members accused IOG—the company behind Cardano—of misusing 318 million ADA tokens . These tokens remained unclaimed after Cardano’s 2017 ICO and became unspendable following the network’s Shelley upgrade in 2020, which moved Cardano towards full decentralization. IOG reportedly moved the unclaimed tokens to ensure a smooth upgrade process. However, this move has led to accusations of financial misconduct. Hoskinson Orders Audit to Restore Trust In response to the allegations, Charles Hoskinson strongly denied the claims and announced an independent audit of IOG to promote transparency and accountability. “We are initiating a comprehensive audit to set the record straight,” Hoskinson stated on X. Who Is Conducting the IOG Audit? IOG Chief Legal Officer Joel Telpner confirmed that top-tier legal and accounting firms will lead the audit: BDO International – Handling the financial audit McDermott Will & Emery – Managing legal oversight A crypto analytics firm – Documenting findings for public transparency Although the audit is set to begin soon, there is no official word on when the findings will be released. Hoskinson Calls Allegations “Personal Attacks” Hoskinson reportedly views the accusations as personal and has expressed emotional distress over the situation. He is considering handing over control of his social media accounts to a team. This is not the first time he has considered stepping back—earlier controversies, including one related to the WALDE meme coin, led him to consider similar actions. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Vitalik Buterin Warns of RPC Risks, Proposes Partially Stateless Ethereum Nodes , Why This Matters Raises critical questions about token management transparency Could set a precedent for how crypto companies handle unclaimed ICO funds A successful audit may help rebuild trust in Cardano and IOG Conclusion This audit could be a pivotal moment for Cardano’s reputation. As the community awaits the results, the transparency of the process and the credibility of the firms involved will be essential to restoring faith in the ecosystem. .article_register_shortcode { padding: 18px 24px; border-radius: 8px; display: flex; align-items: center; margin: 6px 0 22px; border: 1px solid #0052CC4D; background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%); } .article_register_shortcode .media-body h5 { color: #000000; font-weight: 600; font-size: 20px; line-height: 22px; text-align:left; } .article_register_shortcode .media-body h5 span { color: #0052CC; } .article_register_shortcode .media-body p { font-weight: 400; font-size: 14px; line-height: 22px; color: #171717B2; margin-top: 4px; text-align:left; } .article_register_shortcode .media-body{ padding-right: 14px; } .article_register_shortcode .media-button a { float: right; } .article_register_shortcode .primary-button img{ vertical-align: middle; width: 20px; margin: 0; display: inline-block; } @media (min-width: 581px) and (max-width: 991px) { .article_register_shortcode .media-body p { margin-bottom: 0; } } @media (max-width: 580px) { .article_register_shortcode { display: block; padding: 20px; } .article_register_shortcode img { max-width: 50px; } .article_register_shortcode .media-body h5 { font-size: 16px; } .article_register_shortcode .media-body { margin-left: 0px; } .article_register_shortcode .media-body p { font-size: 13px; line-height: 20px; margin-top: 6px; margin-bottom: 14px; } .article_register_shortcode .media-button a { float: unset; } .article_register_shortcode .secondary-button { margin-bottom: 0; } } Never Miss a Beat in the Crypto World! 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An upcoming audit of IOG’s treasury and Allegra hard fork transactions to validate ADA allocations. Why is Cardano’s IOG being audited? IOG is being audited due to allegations of misappropriating over $600M in unclaimed ADA tokens from its 2017 ICO. What impact could the IOG audit have on Cardano? A successful audit could rebuild trust, set precedents for unclaimed ICO funds, and boost Cardano’s reputation for transparency.