04:02
Re7 Labs releases report on the de-pegging of xUSD: Over $13 million affected by Stable Labs, and no response has been received yet.
PANews November 9th reported that Re7 Labs released an impact report on xUSD de-pegging, with over $13 million in funds affected by Stable Labs. The report states:
1. Stream-xUSD: Stream's CEO has assured that the financial situation remains stable and unaffected by market events. Currently, Stream has partially repaid loan positions on Plasma and $7 million USDC in Re7 Labs' treasury on Worldchain; at the same time, to prevent further risk exposure, Re7 Labs has transferred all funds from the Earn treasury out of the xUSD market. Additionally, the upper limit of the xUSD market has been set to 0 and it has been removed from Euler Earn.
USDC-0.01%
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