Hoskinson says Cardano cannot be run like a CEO-led company

Cardano founder Charles Hoskinson said on his recent YouTube channel that he cannot run Cardano like a CEO, as treasury operations and the consensus mechanism are not controlled by a single entity and the structure does not allow anyone to negotiate on behalf of all ADA holders. Hoskinson added that responsibility for ecosystem growth initiatives is distributed under Cardano’s governance structure. Delegated Representatives, or DReps, approve treasury funding, the Constitutional Committee reviews whether proposals comply with the constitution, and funding recipients and designated administrators are responsible for carrying out projects and overseeing how funds are used. Cardano-related organizations are also disclosing project progress reports and code change records, allowing ADA holders to check whether treasury-backed initiatives are being implemented. According to CoinMarketCap, ADA was trading at $0.1771, down 0.06%, at the time of writing.