Cardano’s ICO-Era ‘Redemption Scandal’ Resurfaces — Will It Stall ADA’s Momentum?


A years-old controversy around Cardano’s initial coin offering (ICO) has returned to the spotlight, just as ADA attempts to build on recent bullish momentum. The scandal involves 318 million unclaimed ADA tokens from early ICO participants — funds some critics now allege were “repurposed” without proper consent.


Cardano founder Charles Hoskinson has denied any wrongdoing, and team members insist all avenues were exhausted to reach original investors. An independent audit is now underway to clarify the situation, but market response has been cautious. Open Interest on $ADA futures dipped below $400M, while spot demand softened. $ADA recently dropped 16% from its local high of $0.86, though it still holds above short-term averages — leaving bulls hoping for a breakout above $0.85 to confirm trend strength.


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📊WhiteBIT Chart (5D) $ADA /USDT:

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May 19, 2025 at 6:19 PM
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