Cardano Faces Liquidity Crisis, Hoskinson Proposes Stablecoin Conversion Plan

Cardano is grappling with a liquidity crisis stemming from its limited stablecoin adoption. Charles Hoskinson, the platform’s founder, proposes converting 140 million ADA to USDM, a fiat-backed stablecoin, to address this issue. Critics warn that this move could trigger price drops and instead encourage crypto-backed stablecoin alternatives like those on Ethereum or Solana.