RT Capital Markets (@capitalmarkets).@StraitsX is bringing its stablecoins to Solana in early 2026.- Singapore Dollar–backed XSGD- US Dollar–backed XUSDBoth will be Solana-native and support the x402 standard.This positions them to support emerging demand from Solana’s agentic and AI-native economy. https://t.co/4BN7Qqxi1f ...

RT StraitsX (@StraitsX)We are thrilled to announce that StraitsX will be launching both $XSGD and $XUSD on the @solana chain.This integration is a massive step forward for digital finance:🔹First L1 to Unify: Solana becomes the first Layer-One blockchain to host both #XSGD and #XUSD, creating a unified environment for on-chain FX, liquidity, and real-time cross-border settlement.🔹Ready for AI: Both stablecoins support the x402 standard natively, making them ready to accelerate adoption across emerging AI-dri ...

Core Insights - The recent Bitcoin crash has led to over 160,000 investors being liquidated within 24 hours, resulting in a total loss of $580 million in the cryptocurrency market [1][3]. Market Performance - Bitcoin's price dropped to $93,778.6, erasing all gains made in 2024, with significant declines also seen in major altcoins like Ethereum and Cardano, which fell between 1.93% and 3.44% [3][4]. - The overall cryptocurrency market capitalization has significantly decreased, reflecting widespread panic among investors [3]. Investor Behavior - Long-term Bitcoin holders have sold approximately 815,000 Bitcoins in the past 30 days, marking the highest selling activity since early 2024 [3][7]. - "Whale" wallets, holding Bitcoin for over seven years, are selling at a rate exceeding 1,000 Bitcoins per hour, indicating a strategic distribution rather than panic selling [8][10]. Market Structure Issues - High leverage trading has been identified as a primary amplifier of market vulnerability, with a significant number of investors unable to meet margin calls during the price drop [4][6]. - The decoupling of stablecoins from their pegged values has further shaken market confidence, with USDe dropping to $0.65 and XUSD plummeting to $0.18, leading to questions about the stability of the crypto financial system [6][4]. Institutional Withdrawal - Institutional investors are quietly withdrawing from the market, with Bitcoin ETFs experiencing five consecutive weeks of outflows totaling $2.6 billion, the longest streak since March [10][11]. - The withdrawal of large investment funds and corporate treasury departments has removed crucial support for the market, indicating a new period of vulnerability [11]. Market Sentiment - Market sentiment has drastically shifted, with the Fear and Greed Index dropping to 15, indicating extreme fear, the lowest level since February [13][14]. - Negative discussions surrounding Bitcoin, Ethereum, and XRP have surged, reflecting a significant decline in market confidence [13][14]. Regulatory Environment - Increasing regulatory pressures are contributing to market fears, with warnings from the G20 Financial Stability Board about significant gaps in cryptocurrency regulation [16].

Core Insights - The article discusses the current state and future potential of stablecoins in the global payment landscape, highlighting the challenges and opportunities for adoption in various markets. Group 1: Current Market Dynamics - EBANX, a payments facilitator, reports that 100% of its customers are currently using fiat money, indicating that mainstream users are not yet adopting stablecoins [1] - Stablecoins like Tether's USDT and Circle's USDC are gaining traction as they serve as digital representations of fiat currencies, but they still account for less than 1% of global daily money transfer volume according to McKinsey & Co [4][10] - The market value of stablecoins is projected to grow from $315 billion to $1.6 trillion by 2030, contingent on increased adoption by shoppers [10] Group 2: Regulatory Environment - The Monetary Authority of Singapore has indicated that XSGD and XUSD are compliant with upcoming stablecoin regulations, positioning StraitsX as a major player in the Asian financial market [6][11] - Regulatory clarity is essential for the expansion of stablecoin applications, particularly in the US where there is a need to balance the interests of crypto exchanges and traditional banks [8][11] - The potential for confusion arises if issuers are required to create separate coins for different jurisdictions, which could diminish customer protection and complicate transactions [9][11] Group 3: Technological Advancements - Smart contracts are expected to play a significant role in the future of stablecoins by automating transactions and reducing costs associated with compliance checks [5][11] - The integration of stablecoins into e-commerce is seen as a promising application, with companies like EBANX enabling merchants to accept stablecoins alongside traditional currencies [10] - The article draws a parallel between the current adoption of stablecoins and the early days of email, suggesting that as technology improves, stablecoins will become more widely accepted [11]

Core Insights - Elixir has suspended support for its synthetic stablecoin deUSD due to the fallout from Stream Finance's $93 million loss, leading to a significant depeg of deUSD to approximately $0.015 [1][3][9] Group 1: Elixir and deUSD - Elixir has processed redemptions for 80% of all deUSD holders, resulting in a depeg of the token [3] - The market cap of deUSD was around $150 million before the crash, and Stream Finance holds about 90% of the remaining supply, valued at roughly $75 million [4] - Elixir is coordinating with other DeFi protocols to compensate affected holders and has disabled withdrawals to prevent liquidation of deUSD [5] Group 2: Stream Finance - Stream Finance revealed a major hit to its balance sheet with $285 million in debt, including $68 million owed to Elixir [3][9] - The XUSD stablecoin, backed by deUSD, crashed 90% to $0.10 following the disclosure of Stream's financial issues [4] - Stream's rapid growth was based on capital-efficient DeFi strategies, but its reliance on external fund managers has raised concerns about transparency and counterparty risk [7] Group 3: Market Reactions - Analysts described the drop in XUSD as a crisis of confidence rather than a technical failure, with no smart contract exploit identified [6] - Social media discussions have intensified concerns regarding Stream's reserves, suggesting a heavily leveraged position with $170 million in assets against $530 million in loans [6] - Balancer also faced a significant exploit, losing over $128 million but managing to recover $19 million [8][9]

Core Insights - The cryptocurrency market has experienced significant volatility, with Bitcoin reaching a historical high of $126,200 on October 6, followed by a major drop, falling below the critical support level of $100,000 on November 5, reflecting a nearly 20% decline from its peak [2][4] - The recent downturn is attributed to a combination of cooling market sentiment and leveraged positions being liquidated, exacerbated by a broader risk-off environment in the financial markets [2][4] Market Performance - On November 5, Bitcoin's price dropped to $98,900, marking a decline of over 7% in a single day, while Ethereum fell below $3,100, experiencing a drop of over 14% [4] - Over the past month, long-term Bitcoin holders have sold more than 320,000 BTC, indicating weakened market confidence and liquidity pressure [4] Liquidation Events - The cryptocurrency market faced a record liquidation event on October 11, with over $19.3 billion in crypto assets being liquidated across major exchanges, affecting more than 1.66 million investors [4] - In the latest downturn, over $2 billion was liquidated in a 24-hour period, impacting nearly 500,000 traders [3][4] Systemic Issues - Analysts suggest that the recent volatility is a manifestation of deeper structural issues within the cryptocurrency market, indicating a potential shift towards a prolonged bear market [5] - The perceived scarcity of Bitcoin, based on its algorithmically set supply cap, is challenged by the emergence of competing cryptocurrencies and the normalization of forks and token issuance [5] Market Sentiment - Discussions around a potential "bull to bear" transition are prevalent, with some analysts indicating that the current market conditions may not signify a fundamental reversal but rather reflect emotional anxiety among investors [6] - The fear index has dropped to 20, a six-month low, indicating a contraction in short-term risk appetite among investors [6] ETF and Institutional Activity - Since November, there has been a net outflow of over $1.3 billion from Bitcoin spot ETFs, with significant withdrawals from major funds [7] - Institutional buying activity has slowed, with one company reporting its lowest quarterly Bitcoin purchases of the year [7] Stablecoin Instability - The recent market downturn has led to severe instability in stablecoins, with the decentralized stablecoin XUSD experiencing a drop from its $1 peg to approximately $0.26, resulting in a liquidity crisis [9][10] - The collapse of XUSD was attributed to significant losses incurred by its external fund manager, leading to a major shortfall in the project's reserves [9][10] Broader Market Implications - The concentration of the stablecoin market around USDT and USDC raises concerns about systemic risks, as a loss of confidence in these stablecoins could lead to widespread market disruptions [10] - The interconnectedness of stablecoins and the broader cryptocurrency market means that any instability could amplify price volatility and liquidity issues across the sector [10]

Core Insights - Stream Finance is facing a crisis after an external fund manager lost approximately $93 million of the platform's assets, leading to a significant sell-off and a nearly 77% drop in its stablecoin, XUSD [1][3] - The incident has raised concerns about the vulnerability of decentralized finance (DeFi) protocols that rely on third-party fund managers and aggressive investment strategies [5] Group 1: Financial Impact - The loss resulted in XUSD, which was intended to maintain a $1 peg, plummeting to around $0.30 [3] - The total value locked in the platform decreased from about $204 million at the end of October to just $98 million [3] Group 2: Operational Response - In response to the crisis, Stream Finance froze all deposits and withdrawals to mitigate further losses [2] - The platform has engaged law firm Perkins Coie LLP to conduct an independent investigation into the loss and has committed to recovering as many assets as possible [7][8] Group 3: Industry Implications - The crisis has highlighted the fragility of DeFi systems, particularly when transparency is lacking and reliance on external managers is high [4][5] - Other DeFi projects are expected to face increased scrutiny regarding their risk management practices and reserve transparency in the aftermath of this incident [6]

Stream Finance reported that its external fund manager disclosed a loss of around $93 million in Stream Fund assets. The project has hired Perkins Coie LLP attorneys Keith Miller and Joseph Cutler to conduct a full investigation and is withdrawing all liquid assets. All deposits and withdrawals are temporarily suspended until the scope and cause of the loss are determined. Earlier, its staked stablecoin XUSD depegged, falling 22.6% in 24 hours.https://t.co/DQdXmsNBWT ...

$XUSD has depegged by 24.7% to $0.95.Consequently, Elixir has disclosed that they hold redemption rights at $1 with Stream for its lending position.Do you hold any $XUSD? https://t.co/bDLk2oh3UM ...

Listing Announcement - Bybit Spot officially lists BTC/XUSD pair [1] Stablecoin Information - StraitsX USD (XUSD) is a regulated USD stablecoin [1] - XUSD is fully backed and designed for efficient global payments [1]