Stream Finance Halts Withdrawals Following $93M Loss and xUSD Depeg
Stream Finance Halts Withdrawals Following $93M Loss and xUSD Depeg
DeFi platform Stream Finance has halted deposits and withdrawals due to a reported loss of $93 million in “Stream fund assets.” This significant incident has also caused the associated xUSD stablecoin to depeg dramatically, losing 75% of its value.
Stream Finance Halts Operations Amidst Financial Crisis
DeFi platform Stream Finance has announced an immediate cessation of all deposits and withdrawals. The drastic measure comes in response to a substantial financial setback, with the platform reporting a loss of $93 million in “Stream fund assets.”
Adding to the crisis, the platform's proprietary stablecoin, xUSD, has experienced a severe depegging event. Its value has plummeted by 75% from its intended peg, indicating significant instability and raising concerns about the future viability of Stream Finance and its associated assets.