MakerDAO to Remove Alameda-linked renBTC from DAI Reserves
MakerDAO, an issuer of a multi-collateralized stablecoin DAI, will remove the tokenized version of bitcoin issuer by Ren Protocol, renBTC, from its reserves of collateral assets.
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According to the vote page, 100% of voters supported the proposal of removing renBTC from DAI’s collateral. MakerDAO said in a forum post that the reason behind the move is the uncertainty, which significantly increased for the Ren project after Alameda Research went bankrupt. However, it is unclear when exactly MakerDAO plans to remove renBTC from its reserves.
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RenBTC is a wrapped version of bitcoin (EXANTE: Bitcoin) developed by Ren Protocol, which was acquired by Alameda Research in early 2021.
Alameda Research went bankrupt alongside FTX shortly after reports started to surface that FTX’s former boss, Sam Bankman-Fried, used customers’ funds to keep Alameda afloat.
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