Crypto’s MakerDAO Buys $700 Million of T-Bills to Diversify (2)

MakerDAO, one of the original decentralized-finance protocols that was set up to challenge the legacy banking system, purchased $700 million of short-term US Treasuries, its second purchase in eight months as part of a plan to diversify away from often volatile digital assets.

The crypto lending platform first shifted $500 million into Treasuries and corporate bonds in October as a way to limit exposure to any one asset and boost revenue. The project’s governance token holders then approved boosting its T-bill investments to up to $1.25 billion from $500 million in March. The additional purchase was completed by ...