USDX Depegs Spark DeFi Panic: Are Stablecoins Safe?

The cryptocurrency market experienced a significant disruption today with USDX, a stablecoin issued by Stable Labs, breaking its $1 peg and plummeting to lows of $0.38 before partially recovering. This event has renewed concerns about the stability and integrity of decentralized finance systems. We revisit some of the most impactful stablecoin depegs in the industry’s history, shaping regulatory discourse and risk management frameworks for digital assets.