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XUSD Further Deanchors, Dropped Over 57% in 24 Hours

6 hours ago

On November 4th, the staked stablecoin Staked Stream USD (XUSD) has deviated even further from its peg. It has plummeted by more than 57% within 24 hours and reached a temporary price of $0.535.
Earlier reports indicated that Stream Finance announced, "Yesterday, an external fund manager responsible for managing Stream funds disclosed that approximately $93 million of Stream fund assets have been lost and an investigation has been launched. Withdrawals of all liquid assets are being actively made, and this process is expected to be completed in the short term. Pending a comprehensive assessment of the extent and cause of the losses, all withdrawals and deposits will be temporarily suspended, and pending deposit applications will not be executed."
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