🔥 Cardinal Launches—Bitcoin Meets DeFi on Cardano
On June 9, 2025, Charles Hoskinson unveiled Cardinal, Cardano’s first non‑custodial Bitcoin DeFi protocol. Using trust-minimized tech like MuSig2 and BitVMX, users can now wrap BTC UTXOs—and even Bitcoin Ordinals—to lend, stake, or borrow within Cardano’s DeFi ecosystem without centralized bridges . This launch marks a major milestone—driving fresh liquidity into Cardano, and pushing ADA’s price up (~5–6%) alongside increased DeFi activity .
🗳️ Governance Summit Sparks Vital Debate
Hoskinson also proposed an in-person summit to review the 2025 budget and governance framework, prompting calls from some dReps who worried about elitism and inclusivity . He responded firmly, stating, “Not everything is a cabal,” defending the summit’s necessity for focused progress—highlighting ongoing tensions between decentralization ideals and efficient decision-making .
