deUSD Collapses Over 97% Amid DeFi Contagion

[madtrader]

The deUSD stablecoin plunged more than 97% in 24 hours, now trading near $0.025.

Elixir confirmed it has processed redemptions for 80% of holders and launched a claim page for the remaining balances in USDC. The team cautioned: “Do not buy or make investments into deUSD, including through AMMs.”

[Nahid Hossen]

Another stablecoin breaks under stress — liquidity runs are brutal.

[EmTeam]

Contagion always spreads faster than confidence. 🧠