Cryptocurrency

MarkerDAO Co-founder Reportedly Drowns in Puerto Rico

It’s been a rough week for the MakerDAO community with the unfortunate premature death of its co-founder. On Oct. 30, Nikolai Mushegian, co-founder of MakerDAO, died suddenly in Puerto Rico after a controversial post on social media.

Aged only 29, Mushegian’s untimely disappearance makes many people wonder how the man died and who’s responsible for his death. He is not just some man in the market, he is Nikolai Mushegian, one of the leading figures in DeFi and cryptocurrency.

The story initially surfaced in Puerto Rico media. The news outlet El Nuevo Día reported that a 29-year-old man died early Friday morning after being swept away by sea currents on the beach behind Ashford Hospital in Condado.

Missing Information?

According to a police report, the event was reported at 9.15 am at the scene when authorities were alerted that the man, identified as Nicolai Arcadia Muchgian, had been dragged away. Nikolai lived in San Juan, the capital of Puerto Rico.

Mushegian’s legacy was tragically cut short. Nikolai Mushegian is a “legendary” developer in the Ethereum community.

Notably, the man made his name with MakerDAO, a project behind the DAI stablecoin, one of the most decentralized and respected stablecoins in the ecosystem.

A fundamental player in decentralized finance, Mushegian is also the co-founder of the Balancer platform, a particularly innovative DeFi protocol. He also contributed to building the BitShares blockchain network.

Social media was flooded with an outpouring of grief from the crypto community. Many blockchain developers and players pay tribute to and express their deep concern and grief for Mushegian.

MakerDAO founder Rune Christensen shared and praised Nikolai Mushegian’s contribution.

To wit,

“Nikolai was one of the only people in the early days of Ethereum and smart contracts who was able to predict the possibility of smart contract hacks and invented the security-oriented approach to smart contract design we know today. Maker would have been toast without him.”

Growing Concerns Around The Case

The news of Mushegian’s untimely death has raised a host of questions in the community. It led to speculation about possible conspiracy about Nikolai Mushegian’s cause of death. Many believe that his last words on Twitter hours before his passing are possibly linked to the case.

The co-founder of MakerDAO was rightfully concerned for his own safety, and he made no attempt to hide his feelings.

Throughout the course of several months, he had been leveling grave allegations against the CIA. He revealed in a recent tweet that the US body would have been after him.

Was he experiencing a paranoia meltdown, or had he actually come under the spell of some very grave danger? It is impossible to jump to any conclusions regarding the circumstances surrounding his passing. Meanwhile, there has been a lot of discussion and opinion around this very tragedy.

Nevertheless, a number of important participants in the ecosystem warn against jumping to any conclusions in an excessive sense.

The community’s conspiracy theory suggests the forces’ classified synthetic program that targets residents’ private information.

To address the potential concerns that cryptocurrencies represent to the global financial system’s stability while allowing central banks to retain control over currencies and interest rates, central banks have proposed issuing the CBDC as a solution.

CBDCs are expected to be issued by several major central banks in the coming years.

The US Federal Reserve (Fed), European Central Bank (ECB), and Bank of England (BoE) are all preparing to issue cryptocurrencies in the near future. China has emerged as a cryptocurrency industry leader.

The People’s Bank of China (PBoC, China’s central bank) got involved early on in this project and has now deployed trials in various places. CBDCs in China work via a phone app.

While CBDCs assist banks in controlling money and interest rates in order to encourage growth and enact economic policies when appropriate, people who own CBDCs are afraid about the risk of more state surveillance and control.

The post MarkerDAO Co-founder Reportedly Drowns in Puerto Rico appeared first on Blockonomi.

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With 5 years of experience as an editor, Matthew has been a crucial part of TheTechly since its inception. He looks after the editing of news content published on TheTechly. Apart from investing his time in editing, he also provides well-researched news articles for the U.S. niche.
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