Cardano founder: IOG's ADA holdings are profits rather than "gifts"

ChainCatcher news, Cardano founder Charles Hoskinson posted on X defending the blockchain research and engineering company Input Output Global (IOG), rebutting criticisms regarding its ADA holdings and network adoption efforts.

Hoskinson clarified: "No ADA was 'given' to IOG; we earned it. This is not public funding, but profits from building Cardano. The original value of IOG's ADA holdings was about $8 million in 2015. We have been building the ecosystem for nine years. The CF (Cardano Foundation) received ADA as a donation, and they are obligated to use it for the ecosystem; that is the difference."