Odaily News Solana co-founder Anatoly Yakovenko publicly opposed Cardano's proposal to convert $100 million in treasury funds into Bitcoin and stablecoins, calling the decision "extremely stupid." Yakovenko said the project only needs to hold 18-36 months of short-term government bonds as emergency funds, questioning "why Bitcoin should be held for users." The controversy stems from a proposal by Cardano founder Charles Hoskinson on June 14 to enhance the liquidity of its DeFi ecosystem stablecoins. The community is worried that a large-scale sell-off of ADA will impact the price of the currency. Hoskinson argued that the market depth is sufficient to absorb the selling pressure, and pointed out that the current size of Cardano's on-chain stablecoins is only $33 million, which has endangered the development of the ecosystem. (CryptoSlate)