Cardano Founder Proposes Swapping $100 Million in ADA for BTC and Stablecoins to Revitalize DeFi

Foresight News reports, according to CoinDesk, that Cardano founder Charles Hoskinson proposed during a livestream to use $100 million worth of ADA from the treasury, converting it into Bitcoin and stablecoins (USDM, USDA) to increase the proportion of stablecoins and strengthen the DeFi ecosystem on the chain.

He 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 TVL, which is significantly lower than the scale of the stablecoin ecosystem on Solana. This proposal diverges from the view of Cardano Foundation CEO Frederik Gregaard, who previously emphasized that "TVL is not a key metric."