A growing feud between Cardano (ADA) founder Charles Hoskinson and NFT artist Masato Alexander has taken a sharp turn, with new accusations and private messages surfacing amid a $619 million controversy.
Alexander alleges Hoskinson covertly rerouted 318 million ADA from presale wallets into Cardano reserves during the 2021 Allegra hard fork—an accusation Hoskinson flatly denies.
Hoskinson responded on X, claiming the allegations are a ploy to attract attention for Alexander’s Ethereum-based project, Akua. “So the defamation was just about increasing his visibility to fund-raise for an Ethereum project???” Hoskinson posted on Wednesday, sharing a screenshot of a private exchange where Alexander mentioned seeking funding.
Alexander swiftly fired back, questioning the ethics of publicizing private messages and referencing earlier conversations with Cardano developer Phil Harman, who had suggested an Akua version on Cardano. Harman later criticized the disclosure: “What is the purpose of releasing these DMs…?”
Akua’s February 2025 white paper describes it as an Ethereum-compatible prediction market focused on earthquake risk. This has fueled speculation among Cardano community members, who argue Alexander’s campaign is driven by financial motives rather than principle.
Hoskinson has threatened legal action and commissioned independent audits to verify that over 99.8% of presale ADA was properly redeemed, with the small remainder donated to Intersect, Cardano’s governance body. He insists the redemption process was adapted to assist elderly Japanese investors.
Meanwhile, an audit by McDermott Will & Emery and BDO is underway, promising clarity. A release date is TBA.
Cardano Price Analysis – Where is ADA Heading Now?
News of Hoskinson’s feud has done little to substantially affect the course of Cardano’s ADA coin. In the last 24 hours, it fell 2% down to $0.7739.
Over the same period, crypto’s collective market cap fell 4.3% to $3.55 trillion.
However, in the last hour, Cardano has climbed 0.3%, which could indicate a reversal.
Should markets flash green by tomorrow, Cardano will be well on course to a dollar per ADA, but the coin faces some stiff resistance between $0.90 and $1.15 that could scupper its upward price action.
For the minute, Cardano is trading three to four cents higher than its 30-day moving average (MA), but its relative strength index is 56 and falling, indicating some selling momentum is picking up.
This is likely to converge the price of Cardano with its 30-day MA, which will consolidate the price at its current level ahead of a potential new rally.
While Cardano Feud Fails to Impact ADA Price, Investors Turn to Best Wallet for Safety and Returns
Hoskinson’s feud has done little to impact the price of Cardano, which indicates ADA is one fairly robust altcoin.
Another promising altcoin that has been attracting portfolio diversifiers is Best Wallet.
Amid growing concern, attention is shifting to a rising contender in the crypto wallet space—Best Wallet, a secure and user-focused platform rapidly gaining traction in presale circles.
The $BEST native utility token, is at the center of an increasingly popular ICO that’s quietly attracting millions in early funding.
What sets Best Wallet apart is its “Upcoming Tokens” feature, which highlights top-tier crypto opportunities—often before public listing—giving users a significant edge in spotting early investment plays.
The wallet also simplifies yield generation by aggregating high-reward staking options, helping users maximize passive income from their holdings.
Available on both Google Play and the Apple App Store, Best Wallet app supports over 1,000 digital assets and uses Fireblocks’ MPC-CMP encryption to ensure robust asset protection.
With $12.1 million already committed to the $BEST token presale, the project is emerging as a strong alternative for those wary of Ethereum’s potential vulnerabilities.
Follow Best Wallet on X and Telegram.
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