EMURGO said the SecondFi recovery effort has become its sole priority, prompting the Cardano Foundation to assume planning for Cardano’s Singapore Token2049 presence and related side events.
The Cardano Foundation has assumed responsibility for Cardano’s Token2049 plans in Singapore after EMURGO said the SecondFi asset-recovery effort must now be its sole priority. Intersect said EMURGO could no longer commit the resources needed to plan and execute the event. The shift follows an earlier community decision to cancel Cardano’s annual summit in Singapore in October 2026 while approving EMURGO’s proposal to attend and sponsor Token2049 instead. The Cardano Foundation now plans to organize the Cardano booth and the CardanoxDraperxBitcoin side event, which it said will be funded by Draper and the foundation, with more details to come. The handover adds to a broader reshuffling of responsibilities after Emurgo also stepped down last week from the Pentad executive body, again citing the SecondFi recovery process. SecondFi was hacked in June for $2.4 million of ADA, and Emurgo later used emergency measures to take $18.5 million of ADA from users in what was described as a white-hat hack. SecondFi said in early July that those white-hat funds are protected and accessible, will be used in the recovery effort, and that the platform will shut down while it works to return assets to affected users.