Cardano (ADA) Hit by Governance Woes as IOHK, Emurgo Chairs Split with Cardano Foundation
Cryptovest
Published Oct 15, 2018 07:05AM ET
Updated Oct 15, 2018 08:21AM ET
Cardano (ADA) Hit by Governance Woes as IOHK, Emurgo Chairs Split with Cardano Foundation
Cardano (ADA), the ninth largest cryptocurrency ecosystem by market capitalization, has experienced a major leadership shakeup, with the chairs of IOHK and Emurgo taking their leave. Along with the Cardano Foundation, IOHK and Emurgo are the governing bodies of the project. Their respective leaders, Charles Hoskinson and Ken Kodama, published an open letter on Friday, informing the community they were parting ways with the Cardano Foundation due to its “lack of performance.”
“For more than two years there has been great frustration in the Cardano community and ecosystem. This has been caused by a lack of activity and progress on the assigned responsibilities of the Cardano Foundation and its council. Furthermore, there has been no clear indication of improvement, despite many fruitless attempts and approaches to the Foundation’s chairman and council to change this,” the joint statement read.
Hoskinson and Kodama...
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