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The Founder of Input Output Hong Kong (IOHK), Charles Hoskinson, and CEO of Emurgo, Ken Kodama, require Chairman of the Cardano Foundation, Michael Parsons, resign.

The official letter states:

“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.”

Hoskinson highlights that the reason for such demanding consists of a number of "dissatisfaction and frustrations":

  1. A lack of strategic vision from the council;
  2. The absence of a clear public plan for how the Foundation will spend its funds to benefit the community;
  3. Lack of financial transparency
  4. Material misrepresentations and wrongful statements by the Foundation’s council.
  5. The lack of a complete and diverse Foundation council.
  6. Absence/unawareness of any meaningful internal governance system at the Cardano Foundation.

Such sort of situation is clearly not in favor of cardano, since only a month ago its asset was listed on Kraken.

At press time, the Cardano Foundation has not replied to the letter.

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