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":
- A lack of strategic vision from the council;
- The absence of a clear public plan for how the Foundation will spend its funds to benefit the community;
- Lack of financial transparency
- Material misrepresentations and wrongful statements by the Foundation’s council.
- The lack of a complete and diverse Foundation council.
- 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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