In a tight vote that flipped at the last minute, MakerDAO opted to keep Gemini USD as collateral for its DAI stablecoin. sndr_krisztian reports
Up until the very end of the voting, votes favoring removing GUSD from the PSM led the tally.
“Recent MakerDAO governance discussions have raised concerns about GUSD’s heavy reliance on the PSM and Gemini holding GUSD reserves at Silvergate,” Riyad Carey, an analyst of digital-asset research firm Kaiko, wrote in a report earlier this month, referring to Silvergate Bank, a crypto bank that saw a large outflow of customers' digital-asset deposits in the fourth quarter.
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