The Staked Stream USD (XUSD) stablecoin crashed to $0.30 per CoinGecko data, marking one of the steepest depegs of the year so far.
The Staked Stream USD stablecoin crashed to $0.30 per CoinGecko data, marking one of the steepest depegs of the year so far.Stream Finance’s staked stablecoin, XUSD, lost its peg early Tuesday, falling by more than 60% after the DeFi protocol disclosed that an external fund manager had lost approximately $93 million in managed assets.
The event shook the DeFi circles, causing XUSD to plummet to a new all-time low of $0.30, according to data from CoinGecko.“Yesterday, an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets,” wrote the company. It also said it has hired attorneys Keith Miller and Joseph Cutler of Perkins Coie LLP to lead a full probe into the loss and has begun withdrawing all remaining liquid assets as a precautionary step. “Until we are able to fully assess the scope and causes of the loss, all withdrawals and deposits will be temporarily suspended,” the project stated, adding that its decision to retain Perkins Coie reflected a “commitment to transparency and corporate governance.”the issue earlier in the day, noting that XUSD had fallen by 23%, before the decline deepened to 58% within an hour. At the time of writing, the asset was trading around $0.48, a 62% drop in the last 24 hours. Its market cap sits at roughly $95.6 million, with a one-day trading volume of $1.59 million. The stablecoin’s 7-day and 30-day performances both mirror the sharp decline, showing a consistent 62% downturn, making it one of the steepest stablecoin depegs of 2025 so far.The Stream Finance incident comes hot on the heels of an exploit on Balancer V2, one of the sector’s longest-running protocols, whichFrom Meme Coins to DeFi Dominance: How Solana Overtook Ethereum’s Early Growth Curve The attack also impacted several Balancer forks, with StakeWise DAO confirming earlier today that, together with security experts from Balancer and Gnosis Chain, it had managed toThese events highlight a recurring problem in the industry. According to a recent Peckshield report, in September alone, there were more than 20 major exploits on DeFi platforms, in which over $127 million was collectively lost.a 22% drop from August’s loss of $163 million, it still brought 2025’s total above $3 billion, with casualties including the Bunni decentralized exchange. The platformcompletely after an $8.4 million hack, which left the team unable to cover the cost of new security audits. However, they announced that users would still be able to withdraw assets and that the remaining treasury funds would be distributed to token holders.Wayne is a dynamic part-time trader with an impressive eye for detail. His passion for understanding financial systems has led to an intriguing interest in blockchain technology, and he enjoys exploring and writing about cryptocurrencies. Possessing a keen intellect and diligent work ethic, he stays up-to-date on the latest industry trends, regularly sharing his insights in articles and professional presentations.8 Best Crypto Tax Software for 2025
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