Some Cardano development funding has moved into dollar stablecoins, reducing the direct effect of ADA price swings on those budgets. Intersect said on Oct. 9 that its 2026 Treasury Reserve Smart Contract had administered 201.67 million ADA, $26.1 million in USDCx and $4.8 million in USDM to date; “administered” is a cumulative activity measure, not current reserves, vendor-contract holdings or completed expenditure. Actual access to funds still depends on milestones, payment release and redemption conditions. USDCx is separately issued by Circle and fully backed by USDC held in xReserve. Circle, IOG and Midgard can each pause the bridge, but IOG and Midgard cannot freeze, reverse or redirect user funds.