- An independent audit confirms 99.7% of Cardano’s early ADA vouchers were properly and legally redeemed by their owners.
- Cardano founder Charles Hoskinson responded to the audit, which disproves long-standing allegations of insider token manipulation.
An independent audit has confirmed that 99.7% of all ADA vouchers from Cardano’s early days were properly redeemed. The findings address a long-standing controversy around the network’s initial token distribution. The comprehensive review was carried out by the firm McDermott, Will & Emery in collaboration with BDO.
Charles Hoskinson responded directly to the report. He stated on the social media platform X that he expects apologies from those who made accusations. Hoskinson had faced direct claims that insiders manipulated the hard forks and ledger to take ADA tokens.
Waiting for the apologies to come rolling in… pic.twitter.com/0B9U0XOsHr
— Charles Hoskinson (@IOHK_Charles) September 3, 2025
The audit report spans 128 pages. It concludes that 14,282 vouchers were redeemed successfully. A very small number of tokens were not claimed by their original owners. These were lawfully transferred to Cardano Development Holdings in 2023. These funds now support ecosystem grants and community projects managed by Intersect, Cardano’s membership-based governance organization.
For investors, the report provides a clear resolution. It confirms that the distribution of ADA was handled correctly. The result reinforces the operational integrity of the Cardano network. The project can now continue its development work without this controversy. Cardano is currently working on several technical improvements and a U.S. dollar-backed stablecoin. This audit outcome strengthens trust in its foundational history.
Cardano (ADA) is priced at $0.8216, with a 24-hour trading volume of approximately $1.11 billion. The market capitalization stands at $30 billion, supported by a circulating supply of 36.49 billion tokens. ADA has increased 1.38% over the past day and shows a marginal 0.21% gain over the last 7 days. The daily price fluctuated between $0.8043 and $0.8454, reflecting low volatility across major trading platforms.
From a technical standpoint, ADA has defended support near the $0.80 level, holding above it for several consecutive sessions. The price pattern appears stable, but upward pressure remains limited as it approaches resistance near $0.85.
Indicators such as moving averages are converging, suggesting that a breakout may depend on volume increase and broader market conditions. RSI readings remain neutral, indicating a lack of momentum for strong directional movement.
Based on current conditions, my short-term prediction for ADA is $0.875 over the next 7 days, assuming trading volume remains steady. If buying weakens or macro pressure increases, the price may return to $0.785.
