Elixir said it will sunset its deUSD stablecoin after $75 million worth of the token became entangled in Stream Finance’s $93 million loss. Decentralized finance liquidity provider Elixir has pulled support for its synthetic stablecoin, deUSD, due to knock-on effects from Stream Finance’s $93 million loss earlier this week.Elixir said in an X post on Thursday that it has already successfully processed redemptions of 80% of all deUSD holders, which has triggered the stablecoin to depeg from the US dollar to 1.5 cents, CoinGecko data shows.Stream halted withdrawals on Tuesday after an external fund manager disclosed a $93 million loss in net assets, which included an estimated $285 million debt to various lenders, including about $68 million owed to Elixir.Read more Elixir said it will sunset its deUSD stablecoin after $75 million worth of the token became entangled in Stream Finance’s $93 million loss. Decentralized finance liquidity provider Elixir has pulled support for its synthetic stablecoin, deUSD, due to knock-on effects from Stream Finance’s $93 million loss earlier this week.Elixir said in an X post on Thursday that it has already successfully processed redemptions of 80% of all deUSD holders, which has triggered the stablecoin to depeg from the US dollar to 1.5 cents, CoinGecko data shows.Stream halted withdrawals on Tuesday after an external fund manager disclosed a $93 million loss in net assets, which included an estimated $285 million debt to various lenders, including about $68 million owed to Elixir.Read more