Cardano ADA Treasury Firm on Funding Priorities: No Support for SNEK or Midnight Listings

In a decisive move, Cardano founder Charles Hoskinson has clarified that the project's treasury will not allocate funds for exchange listings of ecosystem tokens such as meme coin SNEK and privacy-focused sidechain Midnight. This decision, announced on August 5, 2025, reinforces Cardano's commitment to channeling treasury resources solely toward public infrastructure development rather than commercial ventures. Hoskinson's statement came in response to a proposal seeking 5 million ADA for exchange listings, underscoring the project's disciplined approach to financial governance. The move highlights Cardano's long-term vision of building robust, decentralized systems while avoiding speculative market activities. This stance may influence the valuation and adoption trajectory of ADA as the project continues to prioritize foundational growth over short-term market expansion.

Cardano Treasury Rejects Funding for SNEK and Midnight Exchange Listings

Cardano founder Charles Hoskinson has unequivocally stated that the project's treasury will not finance exchange listings for ecosystem tokens, including meme coin SNEK and privacy-focused sidechain Midnight. The decision underscores Cardano's commitment to using treasury funds exclusively for public infrastructure rather than commercial ventures.

Hoskinson's remarks came in response to a proposal requesting 5 million ADA from the treasury to secure a top-tier exchange listing for SNEK. The founder emphasized that all projects, even those closely aligned with Cardano's development goals like Midnight, must independently fund their market entries.

The stance has sparked debate within the cardano community about the appropriate use of decentralized treasury funds. While some view exchange listings as vital for ecosystem growth, Hoskinson maintains that such expenditures fall outside the treasury's mandate of supporting foundational development work.