Cardano AG has assumed the BTC holdings of Cardano Stiftung

Am I reading this correctly?

Cardano AG (Cardano SA) (Cardano Ltd) , in Steinhausen , CHE
399.959.663, Bahnhofstrasse 2, 6312 Steinhausen, Aktiengesell-
(new registration). Statute date: 27.03.2018. Purpose:
development, marketing and licensing of software, in particular
of software user developments; full
Purpose rewriting according to the Articles of Association. Share capital: CHF 100,000.
00. Payment of share capital: CHF 100’000.00. Shares: 100,000
Bearer shares at CHF 1.00. Qualified facts: contribution in kind:
The company takes over at the foundation according to the contract of
27.03.2018 14 Bitcoins (BTC), for which 100’000 bearer shares at CHF
1.00 are issued. Publication organ: SHAB. The communications
Shareholders are notified by publication in the SHAB. the notifications
Shareholders with known addresses will be sent by e-mail,
Letter or fax. By declaration of 27.03.2018, attention was paid to the
limited revision waived. Registered persons: Parsons,
Michael Kenneth, British citizen, in Hitchin (GB),
Chairman of the Board of Directors, with individual signature; Schmitz
Krummacher, Guido Cyrill (German), in stone.
hausen, Member of the Board of Directors, with individual signature.
Day Registration no. 4500 dated 28.03.2018 / CHE-399.959.663 / 04148573


Yes, it looks like 14 BTC went from CF to C AG.

But also, Parsons according to some sources is in this with Pascal Schmid, not Schmitz-Krummacher, who was involved with CF at the founding stage… very strange.

Edit: It ws S-K first, later replaced by PS.


It’s so great to see more people getting into these events and stories. :clap:
Please continue


I don’t see any sign in this document that the 14 BTC came from CF. It could be private BTC from Parsons and Schmitz-Krummacher.

By the way: I thought that the second board member must be Swiss citizen? Schmitz-Krummacher is German as it seems from this document at

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I believe that requirement is only for a Swiss non-profit Foundation.

This appears to be a for-profit company named Cardano AG. It appears that a member of the Board of Directors must be a resident of Switzerland.

Yes, right. But wasn’t Schmitz-Krummacher not the “Swiss” board member of CF at the beginning?

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Maybe he renounced his citizenship =]

I can’t comment on the composition of the original Cardano Foundation team, however I assume that the regulators and entities involved in the formation of the Foundation would have done their due diligence.

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“Contract of 27.03.2018” is there a link or it’s personal?

Yes it could, but that would raise a whole other set of questions.


There are links in the OP. Or else I don’t know what you’re asking.

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Glad to see other posts about this issue of the Cardano Corporation, was starting to think I was in the twilight zone when it seemed to go mostly unnoticed. This is looking like less a case of MP and PS simply not doing their duties and is looking more like a case of acting in “bad faith”, from an outsiders point of view.


Just for the record, when I first saw this registration of the Cardano Corporation I emailed the CF directly and inquired asking for a simple explanation. I copied other key people from the ecosystem too. I received no reply or acknowledgement from anyone. Silence. Strange.


Strange yes, but perfectly consistent with their behaviour overall. (And non-CF actors might be in the middle of their own investigations.)

That is exactly what I took from the lack of reply and acknowledgement.

“The company takes over at the foundation according to the contract of
27.03.2018 14 Bitcoins (BTC).”
I was asking for more information related to the Contract of 27.03.2018 and 14 BTC. Was wondering what specification the contract hold. Looked around didn’t find anything.

Sorry, I understand now but can’t help, have no relevant knowledge.

Usually these are internal matters they become public when interested persons demand disclosure in relation to a breach. Well I think.


Pascal Schmid must be a very busy guy. It seems he works in the board in dozens of companies and foundations. Have a look here:
Even more strange to me is that in the same documents (see link) very often the names Schmitz-Krummacher and Schmid appear both at the same time. One of them leaves, one enters. See e.g. Document of Particl Stiftung from 04.01.2018, Document of Lisk Stiftung from 22.06.2017, Interchain Stiftung, Blockchain Exploration GmbH, Golem Factory GmbH, …
Maybe this is just a normal behaviour and they both just play their role as Swiss member in the board and kind of rotate through all the foundations and companies. But even if it should be normal, for me it is not a sign of a healthy behaviour. and in neither case we can expect that Pascal Schmid is in any way interested in Cardano or the Cardano Foundation.


Looks like they are involved quite heavily in a competing blockchain. This could mean Pascal found his way to his next job before sh*t hit the fan with Parsons.

We’re excited to announce that Pascal Schmid will be joining the Lisk Foundation Board effective immediately. He will bring with him extensive expertise in finance and business economics. Schmid will be taking Guido Schmitz-Krummacher’s seat on the board, as Schmitz-Krummacher concentrates his efforts around being an independent blockchain and cryptocurrency expert.

full article:

I’m not in favour of him staying after the restructuring of the Cardano Foundations board.
That would be unethical, and all of us should keep an eye on the situation.


I see he’s taking Schmitz-Krummacher’s place yet again. I guess he’s just doing the same thing here as previously, ie fulfilling the statutory requirement for a Swiss national, in which case (a) he surely will give up CF chairmanship as soon as a replacement can be found, and (b) maybe it’s not too serious a conflict anyway?