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The Defiant 2024-12-19 23:20:15

Charles Hoskinson Proposes Swiss Foundation Relocation After Community Backlash

Charles Hoskinson Proposes Swiss Foundation Relocation After Community Backlash

Charles Hoskinson, the founder of Cardano, has called for the Cardano Foundation (CF) to relocate from Switzerland to a jurisdiction that allows its users to elect board members, after the Layer 1’s community raised concerns over transparency and governance practices. In a Dec.17 post on X, Hoskinson expressed concerns over the Foundation's current governance structure, which operates under Swiss law as a not-for-profit and does not allow for community-based board elections, according to Cardano’s website . “Here's a question before they will lie about how the current board got appointed,” Hoskinson’s X post reads. “If Switzerland doesn't allow you to democratically elect the board members, then why can't you move the Foundation to a new jurisdiction that will? The assets can be granted to another body.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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