Cardano Foundation Questioned Over 1,090 BTC ($67.5M) After December 2025 Foundation Dissolution

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According to litigation expert Thomas Braziel in an X post, the Cardano Foundation has been questioned over the fate of 1,090 BTC (worth approximately $67.5 million) that records show it received when its predecessor, the Isle of Man Foundation, was dissolved in December 2025. Braziel noted that the Cardano ICO raised around 108,000 BTC, and urged the Foundation to explain what happened to the Bitcoin. He questioned whether independent reviews were conducted, if conflicts of interest were disclosed, and what protections were offered to ICO participants, particularly given that the same individuals managed the Foundation while controlling entities that received the majority of economic benefits.
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