Article: Anchorage Is Supporting DeFi Governance Token TRIBE Despite Its FEI Troubles

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Anchorage Is Supporting DeFi Governance Token TRIBE Despite Its FEI Troubles

U.S.-regulated cryptocurrency custody firm Anchorage is adding support for TRIBE, the governance token attached to the FEI stablecoin, which tanked terribly after attracting a record $1.2 billion in backing.

Thanks to a lot of hype and speculation, FEI, which employs a novel system of incentives and penalties to hold parity with the dollar, has turned out to be an unstable stablecoin – at least since its explosive launch last week. The support of Anchorage is intended to help the project find its feet, Anchorage co-founder Diogo Mónica said in an interview with CoinDesk.

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