Elixir Permanently Shuts Down deUSD Stablecoin Following $93 Million Loss at Stream Finance

Elixir has permanently closed its deUSD stablecoin after Stream Finance, which controlled nearly 90% of deUSD's circulating supply, reported a $93 million loss. The stablecoin lost its dollar peg and fell to $0.09. Elixir processed approximately 80% of redemption requests at a 1:1 ratio and warned users not to purchase deUSD.