Lookonchain APP

App Store
Feeds Articles

Cardano Founder Responds to Controversy Over $70 Million Bitcoin Transaction: Audit Fee Paid in 2016

2026.06.15 09:04:54

June 15 — The crypto project Cardano is mired in controversy following a discovery by Thomas Braziel, an investor focused on bankruptcy claims and digital assets. Braziel found via company documents and on-chain records that roughly 1,090 Bitcoin from Cardano’s crowdfunding round has an unknown whereabouts. These Bitcoins were originally allocated to an Isle of Man entity—an early predecessor structure of the Cardano Foundation, which was dissolved in December 2025. In a post on X, Braziel questioned Cardano founder Charles Hoskinson, who was an early participant in that Isle of Man entity: What happened to this Bitcoin (now worth around $70 million) after the entity dissolved? Who controls the funds now? And is the situation transparent? Hoskinson responded during an AMA yesterday, stating the Bitcoin was used to cover audit fees for the 2016 crowdfunding sale, when the BTC was only valued at $454,000. Now, Braziel is requesting additional evidence from Hoskinson to validate this claim—including invoices, agreements, approvals, and payment records—to ensure the project’s financial transparency.
Add to Favorites Download image Share x Copy link
Relevant content

Spot silver fell more than 1% intraday.

According to Bitget market data, spot silver has dipped below $57 per ounce, with an intraday decline of over 1%.

14 minutes ago

Binance will list Jersey Mike (JMKE) on its stock trading platform today.

According to an official announcement, Binance’s stock trading will allow users to submit regular trading session limit orders for whole shares of Jersey Mike (JMKE) at 17:05 UTC+8 on July 30, 2026.

14 minutes ago

Institutions: The Federal Reserve’s lack of interest rate actions is positive for emerging markets in the short term.

Ajitabh Bharti, executive director of Capital XB, said the Federal Reserve’s lack of decisive interest rate moves suggests possible political considerations at play. In a report, he noted that with the U.S. midterm elections approaching, the Fed is prioritizing stability over inflation control in the short term. This dynamic could benefit emerging markets like India in the short run. A relatively weak U.S. dollar may ease pressure on the rupee and provide some breathing room for capital flows and external balances. However, if U.S. inflation persists or reaccelerates due to delayed policy action, the eventual correction could be more severe and disruptive, transmitting volatility to global markets including India. (Jinshi)

14 minutes ago

Robinhood co-founder sells 49,223 shares valued at approximately $4.68 million.

According to SEC filings, Robinhood co-founder Baiju Bhatt sold 49,223 shares of the company’s stock on July 24 at an average price of $95.09 per share, totaling approximately $4.68 million. Following the transaction, his shareholdings dropped to 3,703 shares.

14 minutes ago

Qualcomm will raise its chip prices starting September 1, with the increase reaching double digits.

On Qualcomm's earnings call, CEO Amon disclosed that the chipmaker plans to raise product prices starting September 1, with double-digit percentage increases, to push profit margins back to historical levels. He attributed the price hike to rising costs across the entire industry chain, not just memory chip price increases. Amon added that the company will conduct pricing negotiations with each customer individually, noting that "a temporary mismatch between costs and pricing has caused a slight short-term decline in gross margin."

14 minutes ago

SKHX's funding rate on Binance is now 2.1 times that on Hyperliquid.

According to Hyperinsight’s monitoring, the current funding rate for SKHX on Hyperliquid has risen to 0.0373% per hour, paid by long positions to short positions. On Binance, the SKHYNIXUSDT funding rate is approximately 0.3141% every four hours, about 2.1 times that of Hyperliquid over the same period. Calculated at current rates, holding a $10,000 long position would incur a 24-hour funding cost of roughly $89.6 on Hyperliquid and about $188.4 on Binance, a difference of approximately $98.8. Over the past 24 hours, the cumulative settled funding rate for SKHX on Hyperliquid stood at around 0.3925%, while the current hourly rate has risen to roughly 2.3 times the 24-hour average, accelerating cost increases for long positions.

14 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

2024.12.16 14:48:36

A $PEPE whale that had been dormant for 600 days transferred all 2.1T $PEPE($52M) to a new address.

2024.12.14 10:35:27

When Elon Musk tweeted about Moltbook, the meme coin MOLT experienced a short-term 30% price surge, hitting a new all-time high of $114 million.

2026.01.31 18:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18

A sniper earned 2,277 $ETH ($8.3M) trading $SHIRO within 18 hours!

2024.12.03 23:09:08

 More

Hot Articles

Follow us

X

Follow

Telegram

Join