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Cardano 2026 Summit Canceled Due to Failed Treasury Proposal

2026.05.31 23:42:23

May 31 — The Cardano Foundation announced that its scheduled 2026 summit has been officially canceled, as an on-chain governance vote failed to hit the required two-thirds support threshold. Earlier, the foundation submitted a revised proposal requesting 7.8 million ADA (approximately $2 million) in treasury funds to host the October summit in Singapore. Though the measure earned 65.21% support from DRep stakers and backing from a majority of delegates, it did not meet the 66.67% approval threshold required for treasury funding proposals. Cardano founder Charles Hoskinson and Cardano Foundation CEO Frederik Gregaard both publicly urged support for the proposal ahead of the voting deadline, but it ultimately failed to pass.
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