Charles Hoskinson Breaks Silence on USDM Collapse and Cardano’s Stablecoin Future
Cardano founder Charles Hoskinson has spoken out following the collapse of USDM’s leadership and the financial setbacks facing the stablecoin project.
Hoskinson’s recent tweet shows that the blockchain platform remains firmly behind the USDM initiative despite ongoing instability.
USDM, developed by W3i Software, faced a major blow after CEO Matthew Plomin’s death due to health complications on November 14, 2024. The event started the internal disaster recovery plans as the team tried to operate through the leadership crisis.
Since then, W3i Software has filed an amendment with the US Securities and Exchange Commission, which openly identifies key changes to its financial and business position. These are telling moments in the destiny of Cardano-based stablecoin.
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