Stream Finance Stablecoin Drops 77% After $93 Million Fund Loss
Stream Finance announced that a third-party fund manager overseeing part of its portfolio lost around $93 million in user assets, causing a 77% drop in the value of its Staked Stream USD (xUSD) stablecoin. Following the disclosure, withdrawals and deposits were suspended. The company hired law firm Perkins Coie to investigate and help determine creditors’…