Coinbase Returns to 2019 Strategy: Relaunch of Stablecoin Bootstrap Fund to Boost USDC in DeFi
🌀 The exchange will direct initial investments into Ethereum platforms Aave and Morpho, as well as Solana projects Kamino and Jupiter, to enhance USDC presence and offer stable rates in mature and new protocols. The size of the fund is undisclosed, but the goal is clear — to reclaim market share from USDT, which is ahead by more than $100 billion in capitalization.
📜 In 2019, the fund helped propel Uniswap, Compound, and dYdX, laying the foundation for USDC's popularity. Now, the focus is on key DeFi nodes in Ethereum and Solana, which could accelerate the growth of TVL, trading activity, and demand for related altcoins.
🔥 For the market, this is a signal: Coinbase is ready to engage in an aggressive battle for dominance in stablecoins, and the infusion of liquidity into smart contracts could become a catalyst for a new phase of growth in the DeFi sector.