Stream Finance Faces Legal Probe After $93M Fund Loss and XUSD Depeg
Stream Finance has triggered a legal investigation following a reported $93 million loss by one of its external fund managers. The abrupt disclosure has sent shockwaves through its user base, raising urgent questions about fund management practices.
The company has retained Perkins Coie LLP attorneys Keith Miller and Joseph Cutler to lead the probe. All withdrawals and deposits remain frozen pending the investigation's outcome—a MOVE Stream claims is necessary to safeguard remaining assets and ensure transparency.
PeckShieldAlert reports the ecosystem's flagship stablecoin XUSD has depegged amid the crisis. While Stream emphasizes its commitment to accountability through its choice of legal counsel, community trust erodes as investors question the security of their holdings.
