Cardano founder proposes to replace $100 million ADA with BTC and stablecoins to revitalize DeFi

According to CoinDesk, Cardano founder Charles Hoskinson proposed during a live stream to use $100 million in ADA from the national treasury to exchange for Bitcoin and stablecoins (USDM, USDA), in order to increase the proportion of stablecoins on the chain and the DeFi ecosystem. He stated that this move will not impact the ADA market and refuted liquidity concerns. Currently, Cardano's stablecoins on the chain account for only about 10% of TVL, far lower than Solana's stablecoin ecosystem. This proposal differs from the viewpoint previously emphasized by Frederik Gregaard, CEO of Cardano Foundation, that 'TVL is not a key indicator'.