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Cardano Founder Reveals J.P. Morgan Does Not Own Any Critical Cardano Infrastructure

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Sat, 5/03/2022 - 15:46
Cardano Founder Reveals J.P. Morgan Does Not Own Any Critical Cardano Infrastructure
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Cardano founder Charles Hoskinson has reacted to the news of blockchain company ConsenSys facing a multi-billion dollar audit as shareholders claimed ''irregularities.'' The IOHK CEO indirectly hinted at decentralization in the Cardano ecosystem as he tweeted: "Just want to point out that J.P. Morgan does not own any critical Cardano Infrastructure."

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At issue in the ConSenSys audit is the valuation of key pillars of the Ethereum ecosystem, including MetaMask and Infura.

A group of 35 former employees representing more than 50% of all known ConsenSys AG (CAG) shareholders had filed a request for a special audit regarding an August 2020 transfer of assets between ConSensys AG and ConSensys Software Inc.

The group alleges that multiple assets were mispriced during the transaction as key assets such as MetaMask were valued as low as $4.4 million in the transaction. As part of the agreement, JPMorgan also acquired a 10% share in ConsenSys Software.

"We have no secrets": IOHK CEO

As U.Today previously reported, Input-Output CEO Charles Hoskinson said that his company has "no secrets" when asked to weigh in on the Theranos disaster.

He stated:

''Anyone in the world can fork Cardano…Anyone in the world can take our paper and implement our papers as has been done by Mina Protocol and Polkadot for some of our papers…There are no restrictions. If you are a scam, you don't let people see what's behind the curtain because there's nothing there. It's just that simple.''

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