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0xLateBreakfast

Did the founder cash out 1.5 billion tokens at a premium?


Cardano’s recent narrative collapse is pretty severe, and the community is still waiting for an explanation.
ADA-0.23%
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CoinNetwork
Cardano founder Hoskinson may have sold 1.5 billion ADA or 1.5 billion ADA in 2021.
Crypto World News reports that NFT creator Masato Alexander released on-chain analysis saying that Cardano co-founder Charles Hoskinson may have sold about 1.5 billion ADA during the 2021 ADA bull market, when ADA hit a historical high of $3.09. The analysis indicates that large ADA flows can be traced back to staking pool funds associated with IOG, including a transfer of 925 million ADA and multiple transfers of 20 million ADA. Cardano Foundation said it is not aware of the IOG transactions mentioned in the related X posts, but there is no reason to assume that other founding entities and Hoskinson himself did not act professionally and in good faith. CoinGecko data shows that ADA is down 42% over the past 30 days, which is about 95% lower than its 2021 peak.
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