Cardano founder responds to foundation governance controversy: The foundation has no direct connection with IOHK and Emurgo.

Charles Hoskinson, the founder of Cardano, responded to the controversy surrounding the governance structure of the Cardano Foundation (CF), emphasizing the importance of decentralization principles and community oversight. The controversy originated from the concerns raised by prominent Cardano community member Rick McCracken regarding the leadership and transparency of the foundation, arguing that there is a lack of effective community oversight. Charles Hoskinson pointed out that the foundation has no direct affiliation with IOHK and Emurgo, and that the utilization of the $600 million $ADA treasury funds does not adequately represent the interests of the community. Hoskinson criticized the foundation for not actively supporting project funding, which could impact the development of the ecosystem. (CoinGape)