The Chief Technology Officer of Cardano Foundation, Giorgio Zinetti, is stepping down after a little over two years at the company. Zinetti announced the development on X on Monday, noting that he would be leaving the organization on August 31 and that he planned a new adventure later in September.
Zinetti joined the Cardano Foundation in 2024, where he served as the technical leader for expanding the Foundation’s projects and products, with a focus on scaling enterprise adoption. The Foundation confirmed Zinetti’s departure in a separate post on X. No replacement has been named, and the company has yet to clarify how the CTO’s duties will be covered once Zinetti leaves at the end of the month. It, however, mentioned that the board and executive team will continue working closely with senior technical and business development staff to hold the line on enterprise adoption.
Cardano Foundation reiterates focus on its goals
Cardano Foundation also mentioned on X that “In line with our current roadmap, the Foundation Board and Executive team continues to work closely with our technical and senior business development leaders to maintain a direct focus on enterprise adoption.” The Swiss-based Cardano Foundation is a not-for-profit organization tasked with advancing Cardano.
It is worth noting that Cardano is also supported by two other separate entities, Input Output Global (IOG) and Emurg. All three companies work together to manage and advance the Cardano blockchain. IOG is Cardano’s engineering and development front, led by Charles Hoskinson, while Emurgo serves as the commercial arm. In July, however, Emurgo announced it would step down from its duties as a member of Cardano’s governance group.
The decision was made after its wallet, SecondFi, was exploited, resulting in the loss of $2.4 million in ADA, as Cryptopolitan reported. Cardano is currently the 29th-largest chain by total locked-asset value (TVL). It accounts for $69.62 million in DeFi TVL, across 69 protocols, according to on-chain data from DeFiLlama. At the time of writing, the native token ADA was trading at $0.1961, with a $7.16 billion market cap.
