The Ethereum Foundation plans to convert about 5,000 ether into stablecoins to secure funds for operating costs and grant programmes. It will sell ether gradually using CoWSwap\'s time-weighted average price function to reduce market impact, targeting about $11 million. The move follows earlier TWAP sales and reflects a broader shift toward DeFi operations and staking alongside sales and over-the-counter deals. The foundation continues to hold substantial ether and stablecoin assets.

Decentralised finance protocol Sky will sharply reduce the size of its token buyback programme to bolster stablecoin reserves. DL News reported that a digital cooperative operating Sky voted on March 12 to cut daily buybacks to $37,600 from $300,000, an 87 percent reduction, for three months. Founder Rune Christensen cited the war in Iran. Critics said the move came late as resources backing USDS and DAI have been shrinking.