Charles Hoskinson, the founder of Cardano, proposed using $140 million worth of ADA (about $100 million) from the treasury to boost the growth of decentralized finance (DeFi) by purchasing Bitcoin and stablecoins specific to Cardano (USDM, USDA, IUSD). The value of ADA dropped by 6% following the announcement, amid ongoing divisions within the cryptocurrency community. Some see it as a bold step towards the maturation of the ecosystem, while others view it as fraught with risks given market conditions and governance concerns.
