CHARLES HOSKINSON ADDRESSES CARDANO FOUNDATION OVERSIGHT SAGA!

Charles Hoskinson, the founder of Cardano, has addressed the ongoing controversy surrounding the Cardano Foundation's governance structure.

The debate sparked after Rick McCracken, a prominent figure in the Cardano community, raised concerns about leadership transparency and organizational accountability.

Hoskinson emphasized the need for community oversight, stating that the Cardano Foundation's $600 million ADA treasury lacks direct community representation for fund allocation. He proposed that the community should have a greater role in governance, rather than relying solely on the Foundation.

To achieve this, Hoskinson highlighted the CIP-1694 governance proposal, which aims to establish a framework for decentralized decision-making.

This proposal would bring an end to the technical bootstrapping phase of Cardano's on-chain governance, allowing the community to have a more significant say in the ecosystem's direction.

In response to McCracken's comments, Hoskinson apologized for any hurt caused but also expressed disappointment in McCracken's approach. He emphasized the importance of unity within the Cardano community, especially in 2025.

The Cardano price has experienced fluctuations amid the governance debate, dropping to $0.7620. However, analysts predict potential growth, with support levels at $0.7460 and resistance near $1.2430.$ADA