The founder of Cardano proposed to exchange $100 million worth of ADA into BTC and stablecoins.

On June 13, according to CoinDesk, Cardano founder Charles Hoskinson proposed to use $100 million of ADA in the treasury to exchange it for Bitcoin and stablecoins (USDM, USDA) to increase the proportion of stablecoins on the chain and the DeFi ecosystem. Charles Hoskinson said the move would not hit the ADA market and dismissed liquidity concerns. At present, Cardano's on-chain stablecoins only account for about 10% of TVL, which is far lower than the scale of Solana's stablecoin ecosystem. The proposal is at odds with the Cardano Foundation's CEO Frederik Gregaard's previous emphasis on "TVL is not a key metric."

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