[Cardano Treasury Development Funds Shift to Stablecoins, Managing a Total of 26.1 Million USDCx] According to a report by CryptoSlate on October 17, as cited by Jinse Finance, Cardano ecosystem governance organization Intersect stated in its October 9 weekly report that its 2026 treasury reserve smart contract has so far managed 201.67 million ADA, 26.1 million USDCx, and 4.8 million USDM, making part of the development budget no longer directly dependent on ADA's price. Previously, on October 2, it was reported that two budget allocations had been minted into the dollar-pegged stablecoin USDM via Moneta Digital and deposited into smart contracts: $4,505,955 USDM for governance and technical custodianship (scheduled until July 29, 2027) and $316,253.88 USDM for Se7en Labs' Daedalus wallet project (scheduled until September 29, 2027). The report noted that USDCx is fully backed by Circle's xReserve using USDC, and upon destruction, it can release USDC on Ethereum, typically taking about 2 to 4 hours. Circle, Input Output, and Midgard all have the ability to suspend this bridge. USDM issued by Moneta can be directly exchanged for U.S. dollars but requires an account that has passed identity verification, anti-money laundering, and sanctions checks. Currently, it is only available to residents of 20 U.S. states.