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The cryptocurrencies are in a downward move after facing rejection at their respective overhead resistance levels.

MakerDAO founder Rune Christensen weighs in on how DeFi projects can "interact with the real world economy" and do things like invest in real estate and renewable energy. Christensen also shares his thoughts on the future of stablecoin regulation.

MakerDAO founder Rune Christensen discusses his take on the U.S. Treasury department's sanction of crypto mixer Tornado Cash, explaining why it's "useless and pointless" and goes against the ethos of the crypto industry. #cryptocurrency #digitalfinance #finance #bitcoin #crypto Subscribe to CoinDesk on YouTube: https://www.youtube.com/user/CoinDesk?sub_confirmation=1 Site: https://www.coindesk.com Twitter: https://www.twitter.com/coindesk LinkedIn: https://www.linkedin.com/company/3104779/admin Instagram: https://www.instagram.com/coindesk Facebook: https://www.facebook.com/CoinDesk Newsletters: https://www.coindesk.com/newsletters CoinDesk Podcast Network: https://open.spotify.com/show/2jyIhkvAQhed8AWDZiPpSP Markets Daily Crypto Roundup: https://open.spotify.com/show/7sDXM8BlxsUqzL2IqmLqwE CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community.

Uniswap's UNI and MakerDAO's MKR are the two leading altcoins that have seen a significant spike in whale transactions above $100,000 on their respective networks since the beginning of this month, data from Santiment revealed.

Recently, Circle suspended USDC tokens belonging to 38 wallet addresses which were blacklisted by the US Treasury Department. These wallets were of Tornado Cash addresses. Following this, MakerDAO has raised concern about the risks related to USDC.

MakerDAO (decentralized autonomous organization) founder Rune Christensen has called for the community members to consider depegging Maker (MKR)'s stablecoin DAI from USD, and perhaps (slowly) getting into ethereum (ETH) – which Vitalik Buterin argued would be a “terrible idea.”

The co-founder of the Decentralized Autonomous Organization has expressed that he plans to sell $3.5 billion worth of USDC for ETH.  DAI Could Depeg MakerDAO co-founder Rune Christensen's decision to sell such a vast amount of USDC for ETH could result in another stablecoin catastrophe.

Announcing through Discord, MakerDAO's founder Rune Christensen revealed that the DeFi protocol might consider de-pegging its native token DAI from stablecoin USD Coin (USDC).

Rune Christensen, the co-founder of MakerDAO, said that the DAI stablecoin could drop its peg to the US dollar, removing all the risks of working with USDC. According to daistats, the DAI stablecoin is now 60% backed by USDC (estimated to be worth $3.5 billion).

The founder of MakerDAO, Rune Christensen, said on the project's official Discord channel that they are seriously considering moving away from using Circle's stablecoin USD Coin (USDC) following the immediate closure of USDC addresses sanctioned by US authorities for interacting with Tornado Cash.

MakerDAO co-founder Rune Christensen plans to sell up to $3.5B in USDC for Ethereum — a move that could result in its DAI stablecoin losing its dollar peg. The post MakerDAO Founder Plans to Sell $3.5Bn USDC Backing For Ethereum, Risks DAI Depeg appeared first on BeInCrypto.

In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to “seriously consider” preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel on Thursday, August 11, after the U.S. Treasury sanctioned crypto mixer Tornado Cash earlier this week.

In light of the recent Tornado Cash and frozen USDC addresses debacle, MakerDAO founder Rune Christensen is hoping to move DAI's collateralization away from USDC.

Rune Christensen sees a new era ahead for DeFi, and it isn't pretty, he told CoinDesk TV's “First Mover” program

MakerDAO is set to discuss whether it needs to remove the USDC backing for DAI which could depeg the stablecoin from the US dollar. The post MakerDAO founder says it's ‘almost inevitable' DAI will abandon USD peg appeared first on The Block.

Over 50% of DAI is currently collateralized by Circle's USDC.

Funder Rune Christensen believes the Tornado Cash sanctions are putting MakerDAO at serious risk.

Following Circle's freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. The post MakerDAO plans against sanctions from USDC exposure appeared first on CryptoSlate.

DeFi tokens are the cryptos to sell as regulatory scrutiny and even crypto-centric sanctions continue to crop up from the U.S. government.

MakerDAO developers are working on an emergency shutdown plan in case the U.S. Treasury's sanctions reach the project.

Although there is a bearish trend in the markets, investors think this decline will not continue for a long time. Investors point out that the cryptocurrency markets, which should see a recovery in a short time, create a serious buying opportunity in this period, significantly increasing the profitability expectation in the long term.

DeFi protocol MakerDAO (MKR) has identified seven risks its protocol faces if Ethereum (ETH) is forked. The post MakerDAO identifies risks of an Ethereum hard fork appeared first on CryptoSlate.

Shapeshift CEO and founder Erik Voorhees recommended the MakerDAO community take precautionary measures after the United States Treasury sanctioned Tornado Cash. The post Erik Voorhees urges MakerDAO community to exit USDC positions after Tornado Cash sanctions appeared first on CryptoSlate.

Select altcoins such as FLOW, THETA, QNT, and MKR could rally if Bitcoin breaks above the stiff overhead resistance at $24,668.