Upbit Issues Warning on Synthetix Amidst sUSD Stability Concerns

South Korea’s leading crypto exchange, Upbit, has issued a warning to investors regarding Synthetix (SNX), citing concerns about the stability of its stablecoin. The exchange classified SNX as an ‘investment alert asset’ following the DAXA designation due to the sUSD stablecoin’s failure to maintain its peg with the US dollar and escalating volatility in the SNX token. 🤯 As a result, Upbit will halt SNX deposits starting at 15:00 UT on April 24th.