Sky Protocol Receives Moody's First Stablecoin Protocol Rating with $10B AUM and $90M Equity

Odaily Planet Daily reports that the decentralized finance (DeFi) protocol Sky Protocol has been assigned a B3 long-term counterparty risk rating with a stable

• Sky Protocol, a DeFi protocol formerly known as MakerDAO, has received Moody's first-ever stablecoin protocol rating of B3 with a stable outlook.
• The protocol manages $10 billion in AUM and $900 million in equity, but Moody's cited 'material credit weakness' due to low capital adequacy and risks associated with its DAO structure.
• Potential upgrades depend on improved capital ratios, while downgrades could occur if capital falls significantly or profitability and liquidity weaken.

Topics: Asset types, Legal regulatory, Institutional adoption, Stablecoins digital cash, Securities law classification, Asset manager initiatives

Tags: #skyprotocol #moodys #stablecoinrating #defi #b3rating #usds #dai #aum #equity #counterpartyrisk

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Abraxas Capital Moves $61.2M USDT To Bitfinex, Supplies 40,000 ETH To Spark

Abraxas Capital deposited $61.2M USDT into Bitfinex and supplied 40,000 ETH to Spark, signaling major DeFi activity. Details and implications.

• Abraxas Capital moved $61.2M USDT to Bitfinex and supplied 40,000 ETH to the Spark DeFi lending protocol.
• These transactions suggest strategic portfolio management, potentially for yield optimization or collateral swaps, highlighting institutional activity in both CeFi and DeFi.
• The moves indicate increasing interoperability between traditional finance and decentralized finance sectors.

Topics: Institutional adoption, Integration with defi, Blockchain usage, Asset manager initiatives, Rwa collateral lending, Ethereum evm l 1 s

Tags: #abraxascapital #usdt #bitfinex #ethereum #sparkprotocol #defi #makerdao #dai #onchainlens #digitalassets

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