cryptoplaza

In a nutshell: The founder of Cardano says they should invest $100 million in its DeFi ecosystem to liven it up.
Charles Hoskinson, the big boss of Cardano (ADA), has thrown out an idea that has kicked up more dust than a camel race: using $100 million in ADA from the Cardano Foundation's treasury to bolster its DeFi ecosystem.
The plan? To buy Bitcoin (BTC) and native stablecoins like USDM, USDA, and IUSD. In other words, to make a move so that its DeFi doesn't look like a ghost town.
Hoskinson insists that the move won't crash the price of ADA, which is trading at $0.63, far below its peak of $3.10. According to him, the market has plenty of liquidity, and with TWAPs and OTC sales, the impact would be minimal.