↑ Maker Faces Rebranding Controversies Despite Continued Innovation

Sky, previously known as MakerDAO, launched its USDS stablecoin on Solana. Simultaneously, several meme coins are under discussion as potential 'millionaire-makers.' MakerDAO was among the established cryptocurrency projects mentioned in relation to iShares Bitcoin Trust ETF. Rumblings of market-making firm Wintermute getting involved with ACT meme coin are afoot. Meanwhile, a crypto whale made $16.8M with PNUT and FRED in a week, sparking speculation over PEPU being a millionaire-maker. The DoJ and SEC charged four crypto market makers with manipulation, causing MakerDAO to rebrand, and change its ticker to Sky. Sky is considering a rebrand back to Maker while the price is under pressure, despite signs of a 20% rally. Despite the rebrand and other controversies, Sky has unveiled a star allocation proposal. Sky's rebrand from Maker has received criticism from the DeFi community, as have changes to its stablecoin. Grayscale launched an investment fund for MakerDAO's MKR token. Plans to rebrand Sky back to Maker were squashed following intervention from large-scale voters. Despite turmoil, whales were observed accumulating Maker's MKR tokens during the price struggles. The 'Endgame' for MakerDAO gears towards 100B DAI, a major stride in competing with Tether.

Maker Coin News Analytics from Sat, 09 Mar 2024 08:00:00 GMT to Wed, 20 Nov 2024 05:35:28 GMT - Rating 7 - Innovation 6 - Information 9 - Rumor -3