According to ChainCatcher, citing CryptoSlate, Solana co-founder Anatoly Yakovenko publicly opposed Cardano's proposal to sell 100 million USD worth of ADA to purchase Bitcoin and stablecoins, calling the decision "extremely stupid".
Yakovenko stated that project teams only need to hold short-term government bonds for 18-36 months as emergency funds, questioning "why they would hold Bitcoin on behalf of users".
The controversy stems from Cardano founder Charles Hoskinson's proposal on June 14th, aimed at enhancing the stablecoin liquidity of its DeFi ecosystem. The community is concerned that a large-scale ADA sell-off would impact the coin's price, while Hoskinson argued that market depth is sufficient to absorb the selling pressure, and pointed out that the current stablecoin scale of 33 million USD on the Cardano chain is endangering ecosystem development.
