$ADA The founder of Cardano, Charles Hoskinson, has proposed using 140 million ADA (~100 million USD) from the treasury to boost DeFi development by purchasing BTC and the native Cardano stablecoins (USDM, USDA, IUSD).

ADA dropped 6% after this announcement, as the community remains divided. Some view this as a bold move towards the maturity of the ecosystem, while others believe it carries risks in the current market context and governance concerns.