The Cardano 2026 Summit canceled due to the treasury funding proposal not passing

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Golden Finance reported that on May 31, the Cardano Foundation said that, because the on-chain governance voting did not reach the required two-thirds support threshold, the Cardano 2026 Summit originally scheduled to be held this year has been officially canceled. Previously, the Cardano Foundation submitted an adjusted proposal requesting that the treasury allocate 7.8 million ADA (about $2 million) to host a summit to be held in Singapore in October. Although the proposal received a 65.21% staking support rate from DReps and approval from most representatives, it did not meet the 66.67% approval threshold required for treasury funding proposals.
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