Cardano Foundation cancels 2026 summit after 7.8M ADA treasury ask misses DRep threshold

Cardano Foundation’s 2026 Singapore summit is off after its revised 7.8M ADA funding request drew 65.21% DRep-stake support, short of the 66.67% threshold needed for treasury withdrawals. The ask had already been cut from an earlier 14.07M ADA package and decoupled from EMURGO’s TOKEN2049 sponsorship, which passed separately. The vote is another clean signal that Cardano DReps are willing to jam large ecosystem spending, even when major insiders endorse it.

TLDR by @Benthic

More coverage

• Cardano 2026 Summit Canceled Due to Treasury Funding Proposal ... (binance.com)
• Cardano Summit 2026 Canceled After Community Votes Down $2M ... (cryptorank.io)
• Cardano (ADA) Foundation Cancels 2026 Summit After a $2M ... (openpr.com)
• Cardano just canceled is 2026 Summit – exposing the power and ... (coinmarketcal.com)
• Cardano Summit 2026 - Singapore | 5-6 October (summit.cardano.org)

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