XUSD Further Depegs, Plunges Over 57% in 24 Hours

BlockBeats News, November 4th, the stably staked coin Staked Stream USD (XUSD) has further deviated from its peg, plummeting over 57% in 24 hours to a temporary price of $0.535.

Earlier reports stated that Stream Finance issued a statement saying, "Yesterday, the external fund manager responsible for managing Stream's funds disclosed that around $93 million of Stream's fund assets have suffered losses and has initiated an investigation. We are actively withdrawing all liquid assets, and the process is expected to be completed in the short term. Until the full extent and causes of the losses are assessed, all withdrawals and deposits will be temporarily suspended, and pending deposit requests will not be processed."