CandleFocus Cardano Founder Says IOG's ADA Is Not People's Money
2025-01-12
Author: Content Editor
Cardano founder Charles Hoskinson clarified that his company, Input Output Global (IOG), will not use its ADA holdings to fund the integration of Circle's USDC stablecoin. IOG is not obligated to use its profits for such initiatives. On the other hand, the Cardano Foundation, which received ADA tokens as a donation, has a mandate to spend them on the ecosystem. A $3 million integration deal with USDC was turned down by the Cardano Foundation when it had $2 billion in total assets. Hoskinson accused a former CF employee of trying to "rewrite history" regarding Cardano's failure to integrate stablecoins. Concerns over the lack of successful decentralized applications and insufficient transaction volume have deterred stablecoin issuers like Circle and Tether from adding support for Cardano. The USDC stablecoin is currently available on 16 blockchain networks.
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