Cardano in Crisis? Charles Hoskinson Speaks out on ADA Slander Campaign
Emily HarrisCardano creator Charles Hoskinson addresses serious ADA community controversies[...]
Cardano Founder Denies Treasury Manipulation Allegations, Criticizes Optim Finance
Tensions are rising in the Cardano (ADA) ecosystem as a dispute unfolds between project founder Charles Hoskinson and the Cardano-based DeFi platform Optim Finance. At the center of the controversy are resurfaced allegations accusing Hoskinson of manipulating the Cardano treasury, claims he has firmly denied and described as part of a broader campaign to damage his and Cardano's reputation.
The initial dispute stems from past transactions during the 2021 Allegra hard fork, with some community members suggesting that over $600 million in ADA were inappropriately accessed or redirected. Hoskinson has responded by confirming that an independent audit is underway to clarify the historical record, insisting that most of the ADA in question had been legitimately redeemed by original holders over a seven-year period. He has described the allegations as misleading and harmful, stating that they rely on technical misunderstandings and lack any formal legal or regulatory action.
In recent days, attention has shifted to Optim Finance, with allegations that the project has supported individuals and narratives tied to the original claims. Hoskinson has criticized the platform for what he calls an organized effort to spread misinformation, suggesting that delegating user funds to actors involved in the accusations was a serious lapse in judgment. He has emphasized that the issue goes beyond criticism of him personally and pointed to long-term damage being done to Cardano's image and credibility in the wider crypto space.
Optim Finance has responded by acknowledging the tension, stating that emotions had run high but emphasizing their track record of building within the Cardano ecosystem over the past four years. The team has cited contributions to key infrastructures like Minswap and defended their position as one of Cardano's top contributors by transaction volume and total value locked.
