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Quick Take THORChain's governance approved a proposal to address a nearly $200 million debt crisis. The approved plan involves converting defaulted debt into equity by issuing creditors a new token called TCY. TCY token holders are entitled to 10% of THORChain's revenue in perpetuity. THORChain's governance body passed a key proposal as part of restructuring efforts to resolve the debt crisis, converting defaulted debt into equity tokens. A majority of THORChain's validators passed its governance proposal 6, indicating community consensus on how to tackle the nearly $200 million debt crisis that emerged within the protocol. On Jan. 23, THORChain suspended its THORFI services, including "Savers and Lending" programs, due to financial uncertainties. A 90-day restructuring plan is in place to address and reduce the issues stemming from accumulated unserviceable debt in these programs. The community-approved plan is to convert debt into equity, specifically into a new token called TCY (Thorchain Yield) with a supply of 200 million. .. $RUNE $BTC Follow us for more tips

$RUNE READY TO TEST $1.390 NEXT $RUNE is currently trading at $1.368, showing a strong upward movement after rebounding from its 24-hour low of $1.018. The resistance at $1.390 is the key level to watch, as a breakout above it could push $RUNE toward the next target of $1.450. Strong support is seen around $1.320, which is crucial for maintaining bullish momentum. Keep an eye on these levels as $RUNE continues to demonstrate recovery and potential for further gains.

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