- Charles Hoskinson rejected claims that insiders hoarded NIGHT allocations during the Glacier Drop.
- More than 1.3 billion NIGHT have been claimed amid a 60-day window, with Fireblocks enabling institutional custody.
Hoskinson rejects allegations of insider hoarding during Glacier Drop
Cardano founder Charles Hoskinson denied online claims that Midnight’s NIGHT distribution allowed insiders to hoard tokens, stating that the program’s parameters and on-chain verification contradict that narrative. He described the circulating allegations as misinformation and pointed to public metrics from the claim portal.
Drop is going incredible well. Why are you spreading misinformation? pic.twitter.com/iOMCSui52W
— Charles Hoskinson (@IOHK_Charles) August 19, 2025
Program figures indicate that more than 69,000 wallets have claimed in excess of 1.3 billion NIGHT tokens to date, equivalent to roughly 5.5 percent of supply. The running total follows Midnight’s disclosure last week that claims had already passed the one billion mark after the first seven days.
The Glacier Drop opened on August 5 and remains live for 60 days until October 4 at 13:00 UTC. Midnight says nearly 34 million addresses across eight ecosystems were deemed eligible based on a snapshot, with NIGHT issued as a Cardano native asset.
The claim flow requires a signed message to prove control of the origin address and a fresh Cardano destination address to receive tokens.
NIGHT’s total supply is 24 billion, with the Glacier Drop designed to make 100 percent of that amount claimable across phases. Midnight’s materials note that NIGHT powers the network’s resource model and generates DUST for transactions and execution.
Fireblocks to support institutional custody and claim workflows for NIGHT
The Midnight Foundation announced an integration with Fireblocks on August 12 to broaden institutional access to the network. Under the collaboration, Fireblocks will support custody for NIGHT and provide clients with tools to claim, store, and interact with the token during the Glacier Drop and beyond.
The partners framed the move as aligning secure custody infrastructure with a privacy-preserving chain that uses zero-knowledge techniques for selective disclosure.
Operationally, the initiative creates a route for funds, market makers, and corporate treasuries to participate within established controls. The integration may also help standardize workflows for compliance teams that require segregation of duties around key management and transaction approvals.
Midnight has acknowledged friction points during the early days of the claim period, including message signing limitations affecting some Ledger hardware wallet users, which Hoskinson addressed publicly while third-party wallet teams worked on fixes. The issues did not alter eligibility rules or the claim window.
With the claim period still open, Midnight has outlined a second phase called the Scavenger Mine that will allocate a portion of unclaimed tokens through daily computational tasks, followed by a Lost-and-Found phase after mainnet launch.The phasing is intended to extend distribution beyond the initial snapshot and maintain open participation.
At the time of press, Cardano traded at $0.875018, reflecting an exact increase of $0.02006, or +2.347% since the previous close.
