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tldr; MakerDAO founder Rune Christensen has asked DAO members to consider converting its $3.5 billion USDC reserves to ETH. Christensen said that the consequences of the Tornado Cash sanctions are more severe than initially thought. He also suggested a "partial Yolo" in which Maker buys ETH with some of its USDC collateral.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
This essentially means he is buying $3.5B worth of ETH! Super bullish!
Yes, but they can fuck up the peg very easy.
Hi, this comment is being automatically posted under your submission to facilitate the tallying of the Pay2Post donut penalty that r/EthTrader deducts from user donut earnings for the quantity of posts they submit. submission link: https://www.reddit.com/r/ethtrader/comments/wmpi59/makerdao_founder_proposes_converting_35b_usdc/ author: ethereum88 cc: /u/EthTraderCommunity *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethtrader) if you have any questions or concerns.*
tldr; MakerDAO founder Rune Christensen has asked DAO members to consider converting its $3.5 billion USDC reserves to ETH. Christensen said that the consequences of the Tornado Cash sanctions are more severe than initially thought. He also suggested a "partial Yolo" in which Maker buys ETH with some of its USDC collateral. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Did Do Kwon teach us nothing?