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Cardano founder responds to the destination of 1,096 BTC: says it is used for Michael Parsons and related requirements of the original audit process

WuSaidBlockchainW
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Abstract generation in progress
Wu has learned that well-known crypto bankruptcy creditor investor Thomas Braziel tweeted that during an AMA, Cardano co-founder Charles Hoskinson said that the 1,096 BTC held by the Isle of Man Foundation (about $70 million at current prices) had been used in 2016/2017 to meet requirements related to Michael Parsons and the original audit process. Thomas Braziel believes that if this explanation is valid, the invoices, agreements, approval documents, and payment records should be released, and that the specific flow of the 1,096 BTC, the recipients, and the reasons should be explained. He also questioned why, if the foundation’s assets were used to resolve disputes involving Michael Parsons, IOHK ultimately controlled about 95% of the raised BTC and obtained billions of ADA, while the foundation received only a small share of the economic benefits. Thomas Braziel said that the costs of routine foundation auditing and tax work are typically several tens of thousands of dollars; even considering the complexity of crypto, they are closer to $500,000 to $200,000 rather than $1 million.
ADA12.53%
BTC3.92%
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HashbrownHero
· 9h ago
Parsons' mess isn't over yet; now they've brought up BTC flows, and the foundation has become an empty shell.
View OriginalReply0
GateUser-af0ea0c9
· 9h ago
The more you dig into this, the bigger it gets—$70 million in audit fees? For something “normal,” it’s only a few ten-thousand dollars; where did the difference in price go?
View OriginalReply0
SandwichBlockSam
· 9h ago
Hoskinson, hurry up and release the invoice; the community has been waiting too long.
View OriginalReply0

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