The post $600 Million Cardano Smear Was ETH-Backed Stunt: Hoskinson appeared on BitcoinEthereumNews.com.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The public conflict between Charles Hoskinson and non-fungible-token artist Masato Alexander who alleged that the Cardano founder quietly redirected 318 million ADA—worth roughly $619 million at the time—from legacy presale wallets into Cardano’s reserves during the 2021 Allegra hard fork, is further escalating. The Cardano founder has fired back with a string of messages on X that recast the affair as a calculated publicity grab for an Ethereum-based venture. “So the defamation was just about increasing his visibility to fund-raise for an Ethereum project??? You seriously can’t make this shit up,” Hoskinson wrote late Wednesday via X, attaching a screenshot of a private chat in which Alexander said he was “trying to lock in some funding for Akua and get some runway.” The screenshot triggered an immediate rebuttal from Alexander—“do you really wanna be sharing DMs charles? put these on the pile”—and opened a window onto a second, previously unseen exchange. In that conversation Phil Harman, chief executive of Anastasia Labs and a long-time Cardano developer, asked Alexander whether a Cardano version of Akua might be possible. Harman later bristled at having the discussion made public: “What is the purpose of releasing these DMs of me trying to give you constructive advice about your dApp? … Sharing this as a gotcha is embarrassing.” Akua—the project for which Alexander is seeking financing—is described in a 28 February 2025 white paper as “a novel approach to prediction markets focused on natural-disaster risk management,” starting with earthquakes and expanding to other phenomena. The protocol architecture is designed for EVM compatibility, a detail that Cardano community engineer Lucas (@rvcas) seized upon when he argued that Alexander’s accusations were a marketing ploy: “Monad is trying to drop an ETH dapp and this…

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Filed under: News - @ May 22, 2025 6:26 pm