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The Cardano Foundation said it has hit the first milestone in its updated governance roadmap, expanding delegation to a new set of community representatives as the ecosystem leans further into on-chain decision-making. The move matters because it shifts meaningful voting weight toward delegated representatives (DReps) whose mandates emphasize adoption and day-to-day network operations rather than purely technical development.

In a post on X and an accompanying blog update, the Foundation said it has delegated an additional 220 million ADA to 11 selected DReps, roughly 20 million ADA each, focused on the pillars of Adoption and Operations. The Foundation framed the step as a continuation of earlier delegations to “Developer & Builder DReps,” and said the new allocation brings total delegation to community DReps to 360 million ADA.

Alongside the additional community delegation, the Foundation said it is revising how it handles its remaining stake in governance. “Rather than leaving a portion of our funds on auto-abstain as initially planned, we will self-delegate the remaining balance (approximately 171 million ADA),” the Foundation wrote. “While this exceeds our initial estimate, it ensures no ADA remains passive and still results in a net reduction of our overall voting power by approximately 43 million ADA, with the clear majority of our holdings now empowering community DReps.”

The Foundation emphasized that the delegations are intended to distribute voting power without imposing direction. “This delegation is not a blind bet, rather it’s a show of trust in a proven history of sound decision-making,” it said. “As always, it’s also a show of good faith: These new delegations come without any expectation regarding voting outcomes. We will not direct these DReps on how to vote, nor will we provide a voting manual.”

That posture, explicitly accepting dissent from its own views, was positioned as a feature rather than a risk. The Foundation said it expects “differing opinions” between the newly selected DReps and the Foundation itself, describing that divergence as evidence of “a healthy, decentralized governance system.”

The Foundation’s rationale for targeting adoption and operations reads as a governance design choice: broaden the expertise mix beyond protocol engineering. “To build a resilient governance system, we need more than just technical expertise—We need business acumen and operational stability,” it wrote, arguing that Adoption DReps can represent real-world utility, onboarding, and enterprise needs, while Operations DReps reflect the practical constraints faced by stake pool operators, toolmakers, and infrastructure providers.

In the published list, the Adoption cohort includes figures tied to community growth and product-building across the ecosystem, from regional community leadership to DeFi and stablecoin infrastructure, while the Operations cohort highlights long-running infrastructure roles such as block explorer analytics, stake pool operations, and SPO tooling.

The Foundation said all eleven delegations were completed in a single on-chain transaction, linking to the Cardano Explorer entry, and noted the delegations are effective immediately. It also encouraged the broader community to “follow and interact with these DReps,” including engaging with their voting rationales and participating in governance actions.

At press time, Cardano traded at $0.3549.

The White House is urging U.S. lawmakers to move quickly on legislation to reform the crypto market structure as political timelines tighten and digital asset markets face renewed volatility.

With the Senate struggling to secure bipartisan support and more than $1 billion in recent crypto liquidations, officials say the window for passing a workable regulatory framework may be closing.

Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, has warned that expecting the crypto industry to operate without clear rules is unrealistic. He argues that some form of legislation is “inevitable” and that delays could leave the sector exposed to harsher policies in the future.

The proposed Senate bill would define how the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) oversee crypto markets, including stablecoins and decentralized finance protocols. However, disagreements over key provisions have slowed progress.

Both the Senate Banking and Agriculture Committees recently postponed markups as lawmakers worked to resolve disputes and gather enough support to advance the bill. Witt has been blunt in his message to the industry: accept compromise now or risk facing a less favorable outcome later.

He criticized Coinbase CEO Brian Armstrong for withdrawing support for the current version of the bill, after Armstrong said the company would “rather have no bill than a bad bill.”

The push for speed is also tied to the November U.S. midterm elections, which could reshape Congress. All House seats and 35 Senate seats are up for grabs, and polling and prediction markets suggest Democrats have a strong chance of flipping the House.

A divided Congress would likely slow or stall crypto legislation altogether. Witt has cautioned that the political alignment needed to pass a market structure bill may not be in place after the elections, making the coming months critical for any deal.

The policy debate comes as markets reel from a sharp deleveraging event. Today, more than 182,000 traders were liquidated in a single day, with total losses of over $1.08 billion. Most of the damage came from long positions in Bitcoin and Ethereum, as falling prices triggered cascading margin calls across major exchanges.

Bitcoin alone saw over $427 million in long liquidations, while Ethereum accounted for roughly $374 million. Technical indicators show many altcoins trading with RSI levels below 50, suggesting continued selling pressure.

Rising Japanese bond yields and renewed global risk-off sentiment have also tightened liquidity, prompting investors to shift away from volatile assets like crypto. Although Bitcoin later stabilized near $90,000, analysts say the recent rebound looks more like a pause after forced selling than a clear return to bullish momentum.

Cover image from ChatGPT, BTCUSD chart on Tradingview