Cardano Summit 2026 Cancelled After Treasury Vote Hits 65.21%, Below 66.67% Threshold

According to the Cardano Foundation, on Saturday, May 30, the foundation cancelled Cardano Summit 2026 after an onchain vote to fund the event failed to secure sufficient support. The proposal sought 7.8 million ADA (approximately $2 million) to stage a two-day summit in Singapore on October 5-6.

The vote closed Friday, May 29, with 65.21% of participating delegated representative (DRep) stake voting yes, falling just short of the 66.67% supermajority required for treasury withdrawals to pass. While a majority of voting delegates supported the request by headcount (135 in favor to 61 against), Cardano's rules require roughly two-thirds of DRep stake backing to approve treasury actions.