Cardano’s Charles Hoskinson Proposes $100M ADA Swap for Bitcoin & Stablecoins

Cardano founder Charles Hoskinson proposes a significant move to boost the platform’s DeFi ecosystem. He aims to swap $100 million in ADA from the Cardano Foundation’s treasury into Bitcoin and stablecoins like USDM and USDA, increasing liquidity within the DeFi landscape. 6% drop in ADA price reflects community debate over this plan’s short-term market impact. The proposal’s goal is to enhance Cardano’s financial infrastructure, with Hoskinson aiming for a 30-40% stablecoin usage rate, as well as boost its overall competitiveness.