Cardano Founder Evaluates Orbis and Ardana Collapse

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

In the turbulent period of the cryptocurrency market, many projects failed to maintain continuity. In particular, the collapse created by FTX led to the bankruptcy of projects that suffered from liquidity and investor shortages. Also, crypto projects continue to resist the effects of the bear market. In between all these processes, Cardano-based Ardana and Orbis had stopped their services. Projects citing financing and market conditions could not survive. Many investors attributed the collapse of Ardana and Orbis to Cardano.

Cardano Founder Links Orbis and Ardana Collapse to Leadership Issue

Cardano founder Charles Hoskinson responded to the criticism with a live broadcast on Twitter. Hoskinson targeted the Orbis and Ardana collapse.

Hoskinson addressed the criticism circulating on social media after the two projects stopped their services. The Cardano founder stated that the closure of the projects was 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 previously invested in these projects.