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Cardano In Turmoil: Hoskinson Addresses Whistleblower Allegations
- Whistleblower allegations have surfaced suggesting disharmony and strategic manipulation within the Cardano Foundation (CF) and it's relationships with Intersect, EMURGO and Input Output Global (IOG). Anonymous sources within CF suggest the organisation is motivated by personal rivalries and that it is currently undermining IOG, Charles Hoskinson and Intersect's broader governance roadmap. The accusations detail long-simmering tensions between CF and IOG and the alleged contention has intensified in recent months.
- The whistleblower alleges that CF's failing leadership is motivated by personal disquiet, rivalries and a desire to limit IOG's and Charles Hoskinson's influence rather than serving the interests of the wider community. They highlight CF's late-stage engagement and attempts to undermine Cardano's on-chain governance framework.
- The whistleblower's memo is particularly critical of the CF's move into Catalyst, the community's innovation funding platform.
- According to the anonymous source, the CF used its large ADA holding in Fund13 as leverage against governance outcomes it disapproved of, and that the move sets a dangerous precedent.
- Cardano founder Charles Hoskinson has addressed some of the whistleblower's claims and admits he agrees with some of the statements made, adding that he has no idea whether the CF will vote against the community constitution or budget.
- He also criticised CF's opaque decision-making structure, highlighting that the board members are not community elected or appointed and no one can influence or veto their decisions or policies.
- At present, the cryptocurrency's ADA traded at $1.16.
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