Stream Finance has reported a loss of approximately $93 million caused by an external fund manager, leading the platform to suspend all deposits and withdrawals. The company has hired attorneys from Perkins Coie LLP to conduct a detailed investigation. Additionally, its stablecoin XUSD depegged by 23%, trading at $0.938, raising concerns about algorithmic stablecoin stability. The platform is actively withdrawing liquid assets and promises to provide regular updates as the investigation proceeds.
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