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Cardano Founder Assessed the Collapse of Orbis and Ardana


Cardano (ADA) founder Charles Hoskinson assessed the collapse of the Ardana and Orbis projects over a live broadcast.

During the turbulent period of the crypto currency market, many projects could not provide continuity. In particular, the collapse caused by FTX led to the bankruptcy of projects with a shortage of liquidity and investors. In addition, cryptocurrency projects continue to resist the effects of the bear market. Between all these processes, Cardano-based Ardana and Orbis had Decommissioned their services. The projects, citing financing and market conditions, could not survive. Many investors attributed the collapse of Ardana and Orbis to Cardano.

Cardano Founder Attributes the Collapse of Orbis and Ardana to the Leadership Problem
Cardano founder Charles Hoskinson responded to the criticism with a live broadcast on Twitter. Hoskinson targeted the collapse of Orbis and Ardana.

Hoskinson addressed the criticism circulating on social media after two projects stopped their services. The Cardano founder stated that the closure of projects is not due to a lack of funding. According to Hoskinson, leadership issues are behind Orbis and Ardana’s decision to cease operations.
The founder touched on CFUND, the Cardano ecosystem venture fund. According to Hoskinson, cFund has invested in these projects before.

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