PANews reported on November 9th that Re7 Labs released a report on the impact of xUSD de-pegging, indicating that over $13 million in funds were affected by Stable Labs. The report stated: 1. Stream-xUSD: Stream's CEO has assured that the company's financial situation is stable and unaffected by market events. Stream has already partially repaid its lending positions on Plasma and $7 million worth of USDC held in Re7 Labs' vault on Worldchain. Meanwhile, to prevent further risk exposure, Re7 Labs has transferred all funds from the Earn vault out of the xUSD market. Furthermore, the cap on the xUSD market has been set to 0, and it has been removed from the Euler Earn vault's supply queue. 2. Elixir-deUSD and sdeUSD: After discovering last week that borrowers using deUSD and sdeUSD as collateral appeared to be associated with Stream, they began to reduce their risk exposure to Stream and Elixir. Specific measures included lowering investment limits and moving funds out of markets that included xUSD, deUSD, and sdeUSD. Currently, all borrowing positions using sdeUSD as collateral have been fully repaid on Plume. 3. Stable Labs-USDx and SUSDx: We communicated with Stable Labs CEO Flex this week and found that he may be in trouble. We have asked him to deposit liquidity so that users can close their positions. The funds affected by Stable Labs are approximately $13,114,000 and we have not yet received a response. Re7 Labs stated that it is seeking legal advice and will develop appropriate legal and strategic responses after a comprehensive assessment of all aspects of the incident.PANews reported on November 9th that Re7 Labs released a report on the impact of xUSD de-pegging, indicating that over $13 million in funds were affected by Stable Labs. The report stated: 1. Stream-xUSD: Stream's CEO has assured that the company's financial situation is stable and unaffected by market events. Stream has already partially repaid its lending positions on Plasma and $7 million worth of USDC held in Re7 Labs' vault on Worldchain. Meanwhile, to prevent further risk exposure, Re7 Labs has transferred all funds from the Earn vault out of the xUSD market. Furthermore, the cap on the xUSD market has been set to 0, and it has been removed from the Euler Earn vault's supply queue. 2. Elixir-deUSD and sdeUSD: After discovering last week that borrowers using deUSD and sdeUSD as collateral appeared to be associated with Stream, they began to reduce their risk exposure to Stream and Elixir. Specific measures included lowering investment limits and moving funds out of markets that included xUSD, deUSD, and sdeUSD. Currently, all borrowing positions using sdeUSD as collateral have been fully repaid on Plume. 3. Stable Labs-USDx and SUSDx: We communicated with Stable Labs CEO Flex this week and found that he may be in trouble. We have asked him to deposit liquidity so that users can close their positions. The funds affected by Stable Labs are approximately $13,114,000 and we have not yet received a response. Re7 Labs stated that it is seeking legal advice and will develop appropriate legal and strategic responses after a comprehensive assessment of all aspects of the incident.

                                                                               Legal experts are concerned that transforming ESMA into the “European SEC” may hinder the licensing of crypto and fintech in the region.                     The European Commission’s proposal to expand the powers of the European Securities and Markets Authority (ESMA) is raising concerns about the centralization of the bloc’s licensing regime, despite signaling deeper institutional ambitions for its capital markets structure.On Thursday, the Commission published a package proposing to “direct supervisory competences” for key pieces of market infrastructure, including crypto-asset service providers (CASPs), trading venues and central counterparties to ESMA, Cointelegraph reported.Concerningly, the ESMA’s jurisdiction would extend to both the supervision and licensing of all European crypto and financial technology (fintech) firms, potentially leading to slower licensing regimes and hindering startup development, according to Faustine Fleuret, head of public affairs at decentralized lending protocol Morpho.Read more