On December 31st, Charles Hoskinson, the founder of Cardano, addressed concerns regarding the governance structure of the Cardano Foundation (CF). He underscored the significance of decentralization and robust community oversight, responding to criticism from community member Rick McCracken, who indicated potential shortcomings in the Foundation’s leadership transparency and its engagement with the community. Hoskinson clarified that the CF operates independently from IOHK and Emurgo, which allows for distinct operational protocols.
Moreover, Hoskinson highlighted that the $6 billion ADA treasury does not inherently reflect the community’s interests. He expressed concern that the Foundation’s reluctance to fund initiatives, like Catalyst, may stagnate ecosystem progress. Such dynamics could pose significant challenges for future development, particularly as prominent contributors, including IOHK, may lack adequate motivation to continue their work. In response to McCracken’s assertions, Hoskinson labeled them as “disappointing” and reiterated the enduring commitment of IOHK to the Cardano ecosystem despite recent operational hardships, including necessary layoffs during the extended bear market.