The Cardano founder quietly increased the 2021 Allegations of public conflict between Charles Hoskinson and collision-free artist Masato Alexander, with Cardano founders quietly leaping the 318 million ADA (about $619 million at the time) from the traditional Presale Presale Presale Wallets to Cardano’s reserves. Cardano founders sent a series of messages on X, reselling the event as a promotion for an Ethereum-based joint venture.
Did defamation just increase his visibility into fundraising activities for the Ethereum project, Hoskinson wrote Wednesday afternoon?
The screenshot triggered an immediate rebuttal from Alexander – “Do you really want to share DMS Charles? Put them on the heap”, and opened a window and then used a second previously invisible communication. During the conversation, Phil Harman, CEO of Anastasia Labs and longtime Cardano developer, asked Alexander if it was possible to become a cardano version of akua. Harman then played a role in the discussion openly: “What is the purpose of releasing these DMs, trying to give you constructive advice about your DAPP? … It’s embarrassing to share this.”
Akua (a project Alexander is seeking to finance) described in a February 28, 2025 white paper as “a new approach to predicting markets for natural hazard management” starting with earthquakes and extending to other phenomena. The protocol architecture was designed for EVM compatibility, a detail that Cardano community engineer Lucas (@RVCAS) grabbed at the time when he thought Alexander’s allegation was a marketing strategy: “Monad is trying to give up on the Eth Dapp, which is how he draws attention from a strong positive interest…he may have real interest and no real benefit from a holistic perspective.”
Hoskinson responded to the assessment, saying the episode orchestrated it as an Ethereum investor. He also threatened legal action and commissioned an independent review of the disputed Treasury transaction, which he said would show that more than 99.8% of the original coupons were redeemed, while the remaining balance (approximately 180-24 million ADA) was eventually donated to Intersect, with the new member based on a new member-based government agency.
Why Cardano token vouchers are swept
In a longer X post on Wednesday, Hoskinson revisited the mechanisms of the 2021 voucher sweep, believing that Japanese retail buyers (many seniors) are struggling with the initial redemption process. “The commercial responsibility for completing the redemption … if the buyer cannot reasonably use the method, there is a moral obligation to change the redemption mechanism.” He wrote, adding that two of the three Genesis key holders had to sign a hard implementation upgrade, thus removing the unredeemable address.
Hoskinson insisted that no Ada was “stolen”, calling the narrative “ridiculous, goal-scoring double peaks” and condemning media headlines, while media headlines. Alexander, by contrast, compared the proof sweep to a unilateral historical rewrite, depriving early investors of coins that only about $7 million of seats surfaced on Intersect.
As Bitcoiners reported on Wednesday, the ADA voucher audit redemption audit and audit heavyweight BDO of global law firm McDermott Will and Emory (MW&E) will give clear answers upon completion. The publication date is not yet known.
At press time, the ADA traded at $0.7889.
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