:cardano: Cardano Foundation’s communiqué on false funding news and recent media coverage

Dear all,

It has come to the Cardano Foundation’s attention that reports are circulating on several news outlets regarding an alleged US$340 million funding round and associated cryptocurrency credit card for Cardano (ADA). These reports are categorically false.

So far, we have identified these false news reports on FOX34.com, latestly.com, soundermirror.com, zexprwire.com, and WRCBtv.com. We will be monitoring the situation to identify if and when other outlets publish this story. The Cardano Foundation has contacted the original distribution source of the article, requesting its immediate removal.

No Cardano related news will ever be distributed through media outlets unless it first appears in Cardano’s official sources, and all official communications will contain the contact details of a relevant source at the Cardano Foundation, EMURGO, or IOHK.

The false reports claim to come from ‘Cardano (ADA) Inc’. The Cardano Foundation would like to formally state that no such official entity exists, nor has it ever existed. The Cardano project is an open-source blockchain and does not exist as a legal entity or organization. Instead, the Cardano Foundation (Cardano Stiftung), which is an independent Swiss organization, governs the protocol and owns its intellectual property.

If such an entity does exist, then the Cardano Foundation has no prior knowledge of Cardano (ADA) Inc., they are not affiliated with either the Cardano Foundation or the Cardano blockchain in any way, nor do they represent the interests or reflect the opinions of any of our affiliated entities (EMURGO and IOHK). Likewise, Cardano (ADA) Inc. is not authorized to use Cardano’s intellectual property or trademarks.

We urge our community to exercise extreme caution when following any links associated with these articles and request that you refrain from interacting with entities who claim to have knowledge of official announcements associated with the Cardano project. Any and all official communications will always be released via the Cardano Foundation’s website and official channels, without exception.

We would also ask our community not to share this content, as it is patently untrue and misleading, and may lead to confusion in the wider Cardano community. Where possible, we also kindly request that our community assists in our efforts by reporting these false articles to the domain owners, and any associated materials on social and media channels such as YouTube and Twitter.

The Cardano Foundation will continue to monitor this situation as it unfolds and make every effort to remove these false reports as they emerge.

Thank you for your understanding,

The Cardano Foundation.


@rin9s I wonder if the fraudulent activity is bigger than our resources and is better posted like this for the big guys to handle? ie ‘above our paygrade’? @Trigger ?


Hi Melanie,

Thanks for your concern, it’s great to see you taking initiative here :slight_smile: The Cardano Foundation is actively investigating this matter and it has reached out to the original source of this misinformation.

Hopefully resolved soon but in the meantime do stay vigilant,



Never underestimate the power of the Commons @MelanieDawn :slight_smile: .
So of course we can always help a little, and we can and should coordinate with proper authorities like CF. Don’t lose faith :wink: .