Cardano Foundation regains social media control amid governance turmoil
The Cardano Foundation regained control of its official X account after a hacking incident on December 8, which involved promoting a fraudulent ADASOL token and spreading false claims about legal action from the SEC. The Foundation confirmed that its internal systems were unaffected and an investigation is ongoing. Internal challenges were highlighted in a whistleblower email, accusing the Foundation of power struggles and marginalizing key contributors like Charles Hoskinson. Concerns were raised about the Foundation's influence over the Catalyst Fund13 and its minimal engagement in governance initiatives. Hoskinson criticized the Foundation's opaque decision-making and lack of accountability to the community. As of December 13, 2024, Cardano's market cap is $39.13 billion, with a price decline of 2.06%. The total crypto market is valued at $3.63 trillion.
