Stream Finance Discloses $93 Million Loss, Igniting Contagion Fears
Stream Finance Discloses $93 Million Loss, Igniting Contagion Fears
Decentralized finance protocol Stream Finance has revealed a substantial $93 million loss, causing its staked stablecoin, xUSD, to trade at less than 30 cents on the dollar. This significant de-pegging event is sparking concerns about the protocol's solvency and potential contagion across the broader crypto market.
Stream Finance rocked by $93 Million Loss, xUSD Plummets
The DeFi ecosystem is once again on edge as Stream Finance announced a staggering $93 million loss. This revelation has sent its staked stablecoin, xUSD, into a freefall, with its value dropping to less than 30 cents on the dollar. The dramatic depreciation of xUSD highlights deep concerns regarding the protocol's financial health and its ability to maintain solvency. Analysts are closely watching the situation, fearing that such a significant event could trigger broader contagion within the decentralized finance space, impacting investor confidence and potentially affecting other interconnected protocols and assets.