Cardano Governance Rejects Treasury Funding for Input Output's Pogun Project

Cardano delegated representatives (DReps) voted against a proposal to withdraw 12.29 million ADA from the community treasury to fund Input Output's Bitcoin DeFi product, Pogun. With 64.33% of the vote opposed, the funding was denied, and Input Output indicated it will no longer default to launching future products on the Cardano network.