Thursday, May 23, 2024
HomeBlockchainCharles Hoskinson: JPMorgan Does Not Own Any Critical Cardano Infrastructure

Charles Hoskinson: JPMorgan Does Not Own Any Critical Cardano Infrastructure

Charles Hoskinson, the CEO of IOG, in a bid to reassure the level of decentralization in the Cardano ecosystem, stated that JPMorgan does not own any critical Cardano infrastructure.

Hoskinson said this while reacting to the news of blockchain company ConsenSys, which currently faces a multi-billion dollar audit after shareholders claimed irregularities.

Read Also: Charles Hoskinson Discloses Three Major Focus of Cardano (ADA) in 2022

Charles Hoskinson tweeted, Just want to point out that J.P. Morgan does not own any critical Cardano Infrastructure.”

How Ethereum Is Involved

The issue regarding the ConsenSys audit directly involved key pillars of the Ethereum ecosystem, such as MetaMask and Infura.

According to PRNewswire that reported the full story, a group of 35 former employees representing over 50% of all known ConsenSys AG (CAG) shareholders, filed a request for a special audit in relation to an August 2020 transfer of assets between ConSensys AG and ConSensys Software Inc.

As alleged by the group, multiple assets were mispriced during the transaction as key assets, including MetaMask, were valued as low as $4.4 million. The banking giant JPMorgan also acquired a 10% share in ConsenSys software as part of the agreement.

Read Also: Cardano Transaction Volume Skyrockets to Double That of Ethereum As ADA Blockchain Expands

Meanwhile, Cardano creator, Charles Hoskinson had said that his software firm, Input Output Global (IOG), has no secrets when asked to comment on the Theranos scandal.

Hoskinson noted:


”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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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

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