The Cardano Foundation said Cardano Summit 2026 will not proceed after its second attempt to obtain community treasury funding for the annual conference failed. A proposal seeking about 7.8 million ADA, valued at roughly $1.84 million, received 65% support from Cardano’s governance community, below the required two-thirds approval threshold. After voting closed, the foundation announced on X that the October summit had been canceled, underscoring how Cardano’s decentralized governance process directly determines whether treasury-funded ecosystem initiatives move forward.