Justin Sun deposited 53,660 ETH worth $125 million into Spark, after withdrawing the tokens from Aave. He now holds about $2.13 billion in assets across Sky and Spark, along with $380 million in Aave.

Sky, the decentralized finance protocol formerly known as MakerDAO, launched its stablecoin USDS and yield-bearing sUSDS on Avalanche via Skylink, a unique crosschain bridge. The bridge began with a 5 million daily transfer cap, expected to increase by April 27.

Tether invested $134 million in Stablecoin Development Corporation (SDEV), acquiring influence in Sky Protocol governance. The funds aim to enhance stablecoin infrastructure, signaling Tether's broader investment strategy beyond USDT.

Tether confirmed its participation in a $134 million funding round for Stablecoin Development Corporation, aiming to provide investors exposure to the stablecoin market through key holdings in SKY and USDS. SDEV now holds around 2.15 billion SKY tokens.

Gate News message. On April 12, according to on-chain data monitoring, Sky (formerly MakerDAO) co-founder Rune’s 7x leveraged Nasdaq 100 short positions have all been closed. He currently still holds 20x leveraged WTI crude oil futures long positions, 7x leveraged Brent crude oil long positions, and 20x leveraged S&P 500 short positions, and all of them are in a loss position. His overall position value has now fallen to about $680k, with an unrealized loss of about $60k, and the return on investment is -21.78%.

On April 8, Hyperbot data showed that as the price of Brent crude oil fell below $90 per barrel, multiple leveraged trading positions held by Rune, the founder of Sky (formerly MakerDAO), suffered losses across the board; their total value dropped to approximately $3.952 million, with an unrealized loss of more than $610,000.

Sky Governance submitted two upgrade proposals on April 7, aiming to strengthen the protocol’s capital protection by implementing a stronger solvency-capability buffer and a sustainable staking rewards model, improving long-term stability and focusing on credibility rather than short-term returns.

Gate News message: On April 7, the credit protocol Grove announced that its TVL has risen to $3.0 billion. Previously, in June 2025, Grove received a $1.0 billion grant from Sky to advance its RWA (real-world assets) business.

Sky Links Capital CEO Daniel Takieddine said that, as expectations for Federal Reserve rate cuts weaken, the upside potential for gold is limited. The price of gold is influenced by strong U.S. labor data and geopolitical risk. He noted that gold’s near-term performance will depend on U.S. economic data and policy signals.

Despite weakness in the crypto market, the stablecoin market continues to grow. Over the past week, total market capitalization rose by 0.43%, reaching $317.26B, a new all-time high. The market share of USDT fell to 58.03%, while the circulating market cap of USDS under Sky increased by 9.57%, becoming the third-largest stablecoin.