The Aragon project increased its Ethereum holdings in its treasury by more than $20 million. Aragon swapped $20.4 million worth of USDC and BTC for ETH, according to the Aragon weekly report.
Ethereum now accounts for approximately 42% of Aragon’s treasury, currently worth $153 million. Aragon traded another $5.2 million worth of wrapped bitcoins in exchange for BTC. The rebalancing of the project’s funds also included swapping $20 million in USDC for the DAI stablecoin.
During the FTX bankruptcy, a reallocation of funds took place to protect the project, Aragon said. Moving more funds into ETH, DAI, and BTC improves our security and censorship resistance by reducing our exposure to assets that are at risk of being mismanaged or interfered with by centralized forces.