BlockBeats News, June 8th. Cryptocurrency bankruptcy creditor Thomas Braziel posted on social media, stating that according to the Isle of Man company registration documents and the Cardano official website, the predecessor of the Cardano Foundation, the Isle of Man Foundation, was established during the 2015 ICO. Cardano founder Charles Hoskinson served as a supervisor, and the foundation received approximately 1090 BTC. However, as the foundation was dissolved in December 2025, Braziel called for the public disclosure of the BTC whereabouts and foundation governance documents, stating that he is not currently accusing any misconduct but rather requesting more transparency.

At the time of writing, there has been no response from the Cardano team.