Cardano founder says 1,096 BTC paid for 2016 audit

Questions surrounding the allocation of 1,096 Bitcoin from Cardano's early fundraising have resurfaced, with founder Charles Hoskinson stating the funds were legitimately spent on a 2016 audit. The Bitcoin, now worth approximately $70 million, was valued at around $454,000 when it was used between 2016 and 2017.

Hoskinson addressed the issue in a recent livestream, explaining the payment compensated three independent auditors who reviewed the integrity of Cardano's initial ADA token sale. He said the audit was requested by Michael Parsons, then chairman of the ADA Foundation, to verify the complex, international fundraising process that raised roughly 108,844 BTC from October 2015 to January 2017. The majority of funds went to the Swiss Cardano Foundation, while the disputed portion of roughly 1,096 BTC was allocated to an Isle of Man entity involved in early legal and operational frameworks.

The controversy was reignited by bankruptcy claims investor Thomas Braziel, who has publicly questioned the funds' destination and called for greater transparency. He has specifically demanded the release of contracts, invoices, payment records, and audit documentation to substantiate the...