Elixir Takes Action as Stream Finance Crisis Leads to deUSD Shutdown

Following the dramatic collapse of Stream Finance, Elixir has initiated the shutdown of its deUSD stablecoin. This decision was driven by significant exposure to Stream’s debt crisis and aims to protect users. 80% of deUSD holders have already received redemptions in USDC as part of the process, while Elixir works to unwind their exposure. The move deepens the DeFi turmoil caused by Stream’s failure, affecting stablecoin prices and raising concerns about broader ecosystem stability.