Cardano Foundation Cancels Summit 2026 After Treasury Vote Falls Short of 66.67% Threshold

According to the Cardano Foundation, the planned Cardano Summit 2026 in Singapore has been canceled after a treasury funding proposal failed to reach the required approval threshold in an on-chain governance vote. The revised proposal requesting 7.8 million ADA (approximately $2 million) received 65.21% support from delegated representatives' stake, falling short of the 66.67% threshold needed for ratification.

Cardano founder Charles Hoskinson suggested alternative plans for Cardano's presence at TOKEN2049 Singapore, proposing to scale up the booth, host a MiniSummit, organize a hackathon, and subsidize attendance for ecosystem projects. The separate TOKEN2049 sponsorship proposal passed independently. ADA traded near $0.2325 following the governance decision.