As per Coincu, Re7 Labs reported on November 9th that the xUSD de-pegging incident impacted over $13 million in funds linked to Stable Labs, raising concerns in the crypto sector. Stream Finance confirmed its financial stability and transferred $7 million in USDC from Re7 Labs’ vault, while Re7 has withdrawn all funds from the xUSD market. The de-pegging has led to legal scrutiny and asset restructuring across affected platforms. CoinMarketCap data shows USDX’s price has dropped to $0.11, with a 68.38% decline in trading volume. Analysts and the community have highlighted transparency and systemic risk concerns, drawing comparisons to the Terra (UST) collapse.
Re7 Labs and Stream Finance Respond to xUSD De-Peg Affecting $13M
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