It appears that a hacker exploited Coinbase to convert a hefty amount of $12.5 million from **DAI** to **ETH**. Additionally, updates on the risk situation of DAI and its parent platform, MakerDAO, which recently rebranded to Sky, have become a hot topic. Its rebranding will supposedly replace DAI with **USDS**, a move that has led to controversies and scepticism around the feature to remotely freeze the new **USDS stablecoin**.More instances of hacking involved a Bybit hacker swapping $3.64M to DAI using decentralized exchanges. As DeFi continues to grow, Sky, the renamed financing protocol, took a hit with a staggering $5M loss. Seemingly benefiting from these events, **Ethena's USDe** rose to the occasion, beating DAI to take the bronze medal in the stablecoin market.Major exchanges such as **Binance** and **Coinbase** are preparing to delist non-compliant stablecoins like USDT that do not comply with MiCA regulations, including DAI, in Europe by end of March. Amid these turbulent times, Ethereum Foundation enhanced DAI’s stability by depositing a whopping $56M worth of ETH in its coffers. Despite these events, DAI persevered to hit $490m in five days, demonstrating its resilience. However, a massive sale of 1.692 billion worth of ETH for DAI by a single entity raises eyebrows about the state of the market.A significant development is Sky’s new **USDS stablecoin** hitting $2 billion circulation within its launch month. Juxtaposing this with the news of DAI's depegging to lifetime lows in the same period sets a sharp contrast between the two. Now veering towards a **fully decentralised stablecoin**, MakerDAO, now Sky, is aiming big with a target of $100bn despite AI delays. They are also toying with plans to launch a decentralized 'PureDai' in the coming years. These events, among others, paint a picture of a tumultuous but enduring stablecoin market led by DAI and the newly introduced USDS.
DAI Coin News Analytics from Thu, 28 Dec 2017 03:05:08 GMT to Tue, 08 Jul 2025 09:54:15 GMT -
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- Innovation 6
- Information 8
- Rumor -2
