Anatoly Yakovenko, co-founder of Solana Labs, sharply criticized Charles Hoskinson's proposal, the founder of Cardano, to convert $100 million of the project's reserves into $BTC and stablecoins. In his post on X on June 16, Yakovenko called the idea 'foolish', stating that projects should hold reserves in short-term U.S. Treasury bonds for 18–36 months instead of investing in Bitcoin, as ecosystem participants can buy BTC themselves. He believes this indicates weak asset management and could undermine trust in $ADA .
In response, Hoskinson defended the strategy, emphasizing that it is aimed at strengthening Cardano's DeFi infrastructure and stablecoins. The proposal sparked controversy in the crypto community, as Hoskinson had previously criticized Bitcoin. Analyst Jeff Park called Cardano's change of position 'unpredictable'. Some experts believe that including Bitcoin in reserves could undermine the uniqueness of altcoins.
This discussion highlights the differences in approaches to managing crypto assets. While Solana is growing thanks to meme coins, Cardano is seeking new paths for development. Stay tuned for news to keep up with events! #CryptoNews #solana #CardanoSurge #Bitcoin #defi #MiningUpdates
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