Moody's assigned Sky Protocol a B3 rating, citing $90 million of capital against $10 billion in assets. What the speculative grade means for USDS and DAI.
Galaxy added $100 million of Sky's sUSDS to its treasury, approved it as loan collateral and bought SKY tokens. The size of its SKY purchase was not disclosed.
A Joseph Lubin-linked wallet moved 110,000 ETH into Maker/Sky vaults to defend a $259M DAI debt position as ETH slid near $1,600.