Thomas Braziel said Cardano genesis records and corporate filings point to early Bitcoin allocations split between Isle of Man and Swiss foundation entities, raising questions over custody after the Isle of Man vehicle's dissolution.
Crypto bankruptcy-claims investor Thomas Braziel expanded his call for disclosure around roughly 1,090 BTC he said was assigned to the original Isle of Man foundation in Cardano’s early structure. Braziel said corporate filings from the Isle of Man and Switzerland, together with Cardano genesis records, show that 108,844.5 BTC was raised across four rounds between October 2015 and January 2017, with about 1,090 BTC allocated to the Isle of Man entity and 7,168 BTC to the Swiss-registered Cardano Foundation. He said Charles Hoskinson served as supervisor for the Isle of Man foundation and is seeking clarification on where the 1,090 BTC went and who controls it after the entity was dissolved in December 2025. Braziel said he is not alleging fraud and framed the effort as a transparency push focused on potential conflicts of interest tied to Hoskinson’s roles at both the Cardano Foundation and IOHK. He also said he had identified the original 2016 Swiss board members and was seeking additional governance records. As of June 8, neither Hoskinson nor the Cardano Foundation had publicly responded.