The MakerDAO founder said on CoinDesk TV’s “First Mover” that he wasn’t in the mood to say “I told you so,” following Terra’s stablecoin collapse.
Asset-backed projects want regulators to know that not all stablecoins are created equal.
Terra's UST briefly fell below $6.5 billion in market cap on Wednesday morning, allowing DAI to be the fourth-biggest stablecoin on the market for a time.
The founder of the crypto lender and stablecoin issuer had feared the worst about potential regulation.
The South Korean-based stablecoin platform Terra has seen its market capitalization overtake better-known decentralized rival Maker's.
"Real world" assets have entered DeFi, as the Maker protocol reportedly just minted $38,000 of dai stablecoins to finance a mortgage loan.
Terraform Labs just activated Anchor, a DeFi protocol promising 20% returns.
Buying in these stablecoins may foretell where the crypto market is going.
Volume on eight trusted exchanges used by CoinDesk hit $239.98 billion in Q4 2020, up from $90.08 billion in the prior quarter.