Singapore · Crypto Briefing
Cardano Foundation cancels 2026 summit after funding vote falters to pass
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
A treasury proposal seeking 7.8 million ADA fell short of the two-thirds approval threshold, killing plans for the Singapore event.
Key facts
- The version that went before DRep voters requested 7.8 million ADA, roughly $2 million, representing a 22% reduction from prior iterations
- Both Charles Hoskinson, Cardano’s founder, and Frederik Gregaard, CEO of the Cardano Foundation, threw their public endorsements behind the proposal on the day voting closed
- The treasury withdrawal proposal needed roughly 66.67% support from active Delegated Representative (DRep) stake
- The cancellation also creates a visibility gap: Ethereum has Devcon, Solana has Breakpoint, and Cardano will not have its summit in 2026 at a time when mindshare competition among Layer 1 blockchains
Summary
The treasury withdrawal proposal needed roughly 66.67% support from active Delegated Representative (DRep) stake. The proposal that went to a final vote wasn’t even the original ask. Voting closed on May 29, and the numbers came in below the supermajority line. Both Charles Hoskinson, Cardano’s founder, and Frederik Gregaard, CEO of the Cardano Foundation, threw their public endorsements behind the proposal on the day voting closed.