MakerDAO Votes to Keep Gemini USD in DAI Stablecoin’s Reserves

“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.