Cardano founder Charles Hoskinson announced via X on August 2, 2025, that the blockchain's treasury will not cover exchange listing fees for projects including meme coin SNEK and privacy-focused blockchain Midnight. This marks the first formal refusal of such funding requests, reinforcing Cardano's commitment to treasury integrity and decentralized governance principles.
Hoskinson stated: "I support and like the SNEK community, but no one is getting listing fees (including midnight) covered by the treasury." The decision directly impacts both projects' exchange strategies, as Tier 1 listings typically cost between $100,000 and $500,000. Projects must now pursue alternative funding mechanisms like bonds or structured repayments.
Community reactions remain mixed, with proponents applauding fiscal discipline while others express concern over limited exchange accessibility. Historically, Cardano's treasury prioritizes protocol upgrades and public goods over market incentives, maintaining stable liquidity and TVL despite funding constraints.