The founder of Cardano proposes exchanging $100 million worth of ADA into BTC and stablecoins.

BlockBeats News, June 13, according to a report by CoinDesk, Cardano founder Charles Hoskinson proposed during a live stream to utilize $100 million worth of ADA from the treasury to exchange for Bitcoin and stablecoins (USDM, USDA) in order to increase the proportion of stablecoins on-chain and boost the DeFi ecosystem.

Charles Hoskinson stated that this move would not impact the ADA market and refuted concerns about liquidity. Currently, stablecoins on the Cardano chain account for only about 10% of its TVL, far below the scale of Solana's stablecoin ecosystem. This proposal contrasts with the prior view of Cardano Foundation CEO Frederik Gregaard, who emphasized that "TVL is not a critical indicator."