EMURGO has transferred responsibility for organizing Cardano’s presence at Token2049 to the Cardano Foundation as it shifts its attention to the ongoing recovery efforts following the SecondFi incident.
The decision was announced in a joint statement with Intersect, the member-based organization that supports Cardano’s governance. According to the statement, EMURGO no longer has the capacity to manage preparations for the major crypto event while focusing on recovering assets for users affected by the SecondFi incident.
Following the recent SecondFi incident, we have confirmed that our priority right now must be solely the recovery of assets for all affected users.
Together with our colleagues at @IntersectMBO and the @Cardano_CF, we have agreed that the best way to ensure a successful… https://t.co/YtvZcAuHTu
— EMURGO (@emurgo_io) July 14, 2026
The transfer follows discussions between EMURGO, Intersect, and the Cardano Foundation to ensure the community-approved initiative moves forward without disruption.
Why did EMURGO step away from Token2049?
EMURGO said resolving the SecondFi incident and supporting affected users has become its top priority, making it difficult to dedicate enough resources to planning Token2049.
Rather than delay preparations, the three organizations agreed that the Cardano Foundation would take over the planning and execution of the event. The Foundation will manage the project within the scope previously approved by the Cardano community.
Although it is stepping back from leading the event, EMURGO said its local team will continue providing on-site support to help ensure a smooth transition ahead of the October conference.
Cardano Foundation takes over event planning
Intersect said the transfer was made to avoid uncertainty as the event timeline continues to shorten.
The organization noted that the Cardano Foundation has experience delivering large blockchain events and is well-positioned to oversee Token2049 while maintaining the expected standard of execution.
Token2049 is one of the crypto industry’s biggest annual conferences, bringing together blockchain developers, investors, founders, and ecosystem leaders. The event is scheduled to take place in October.
What does this mean for the Cardano community?
This explains how different organizations within the Cardano ecosystem are working together to carry out community-approved initiatives while responding to unexpected challenges.
At the same time, attention remains on EMURGO’s handling of the SecondFi incident. Community members have expressed mixed reactions, with some calling for greater accountability over treasury spending, while others have backed EMURGO’s efforts to recover affected assets.
With the Cardano Foundation now leading Token2049 preparations, the community is expected to closely monitor both the event’s progress and updates on the SecondFi recovery in the coming months.
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