ADA Holders Criticize Transfer of TOKEN2049 Responsibility From EMURGO to Cardano Foundation
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Intersect confirmed that responsibility for Cardano's TOKEN2049 Singapore presence is being transferred from EMURGO to the Cardano Foundation, a move reported on July 15, 2026 that has triggered strong ADA holder backlash. Community members say the transfer bypassed the treasury governance process approved by DReps, raising governance and centralization risks for Cardano and potentially denting adoption and trust in the crypto ecosystem.
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The ADA community has reacted strongly after Intersect confirmed that responsibility for delivering Cardano's presence at TOKEN2049 Singapore will shift from EMURGO to the Cardano Foundation. The decision has sparked a governance debate across the Cardano ecosystem, with several community members arguing that the transfer bypasses the treasury governance process approved by Delegated Representatives (DReps).
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