Cardano Founder Warns of Collapse After 'Cutting Ties' with Key Project... Why?

▲ Cardano (ADA)/ChatGPT generated image

A shock occurred as the token plummeted by more than 30% in two days after the founder of Cardano (ADA) declared a separation from a key ecosystem project and warned of "potential collapse."

According to TheCryptoBasic on April 27 (local time), Cardano founder Charles Hoskinson stated that he had officially severed ties with the decentralized cloud project Iagon. He warned that if the current management team remains, the project and token value could be severely damaged.

The conflict was triggered during the expansion of Cardano's infrastructure. When Blockfrost integrated with Filecoin to introduce cloud storage capabilities, Iagon reportedly opposed this, and the conflict escalated during the governance voting process.

In particular, Iagon CEO Navjit Dhaliwal urged a no vote on the financial proposal of IOG, Cardano's core development company, which Hoskinson strongly criticized as an "emotional response." Subsequently, public clashes between the two sides continued, bringing the conflict to the surface.

Hoskinson directly stated, "If the leadership does not change, the project will fail, and the value for token holders will be destroyed." He then made it clear that he would "no longer spend time on this project," drawing a complete line.

Market reaction was immediate. The Iagon token (IAG) plummeted by approximately 34% in just two days, directly reflecting investor anxiety. This is seen as an example where internal conflicts within the Cardano ecosystem directly impacted the price.

Hoskinson simultaneously emphasized a strategy to expand the introduction of various decentralized infrastructures, including Filecoin. The plan is to reorganize the ecosystem by securing multiple infrastructures rather than relying on a specific project.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*