Stream Finance has disclosed that its fund assets have suffered a $93 million loss, has initiated an investigation, and suspended deposits and withdrawals.

BlockBeats News, November 4th, Stream Finance announced that, "Yesterday, an external fund manager responsible for managing Stream's funds disclosed that around $93 million of Stream fund assets were lost. In response, Stream is currently engaging the law firm Perkins Coie LLP, with Keith Miller and Joseph Cutler leading a comprehensive investigation into the incident.

We are actively withdrawing all liquid assets and expect this process to be completed in the short term. To ensure that stakeholders are promptly informed of the situation, we will provide regular updates as more information becomes available. Withdrawals and deposits will be temporarily suspended until the full extent and cause of the loss are assessed, and pending deposit applications will not be processed."

Previously reported, its collateralized stablecoin, Staked Stream USD (XUSD), has already come unpegged, with a 24-hour decline of 22.6%, currently trading at $0.938.