Cardano (ADA) Price Surges Following Public Apology From Charles Hoskinson’s Chief Critic

Cardano’s ADA has spiked by over 5% in the last 24 hours, propelled forward by the public apology of one of Charles Hoskinson’s fiercest critics. Hoskinson’s acceptance of the apology brings an end to a grim chapter in Cardano’s history, marked by accusations of fraud and other personal attacks.

Hoskinson’s Critic Renders Heartfelt Apology After Cardano Audit

Following the public release of the Cardano audit report, pseudonymous X account FRED has tendered an apology to Charles Hoskinson for scathing allegations of fraud and misrepresentation.

In an X post, FRED confirmed that his precious accusations against Charles Hoskinson were wrong in light of the audit report. FRED had previously claimed that Hoskinson was involved in a plot to misappropriate ADA meant for voucher holders with certain Cardano hardforks designed to stifle voucher redemption.

Furthermore, FRED claimed that unredeemed ADA was redirected to Cardano Development Holdings (CDH) without due process. To amplify his claims and seek transparency, FRED created the Cardano Ethical Oversight Discord and DREP, quickly racking a reputation in the ecosystem as fierce critics of Hoskinson.

As chatter of misappropriated unredeemed ADA swirled, Input Output Global (IOG) commissioned the audit of the ADA voucher sale, hiring accounting firm BDO and law firm McDermott Will & Emery. The report revealed that Hoskinson and the team did not misappropriate unredeemed ADA from voucher holders, debunking the claims by FRED.

“The recent audit into the ADA voucher sale, conducted by BDO, has shown that Charles and all of the involved parties were absolved of any wrongdoing,” read the X post. “As a result, I want to retract all of my previous accusations of any wrongdoing during the voucher sale.”

Fred noted that he will be deleting his account within 30 days while urging delegators to un-delegate from the CEO DREP. Charles Hoskinson accepted the apology, noting that forgiveness and redemption are required to close several hurtful chapters.

“When people show the courage and ability to do that, it’s a momént for all of us to grow and move to higher ground,” wrote Hoskinson on X. “So I accept the apology and I’m glad that this terrible and hurtful chapter in our ecosystem’s history has been closed.”

Within hours of the apology post and Hoskinson’s acceptance, the ADA price gained an impressive 5% over the previous day, trading at $0.8. While the resolution appears to be the primary growth driver, rising ETF anticipation amplified by Grayscale’s plan to include ADA in its upcoming multi-crypto ETF has contributed to the buzz.

Over the last 24 hours, trading volumes have surged to nearly $1.5 billion, rising in tandem with the broader cryptocurrency market’s upswing. In the same time frame, Bitcoin has set a new all-time high of over $125,000 while BNB has cracked the $1,200 mark as the global crypto market capitalization exceeds $4.27 trillion.