Stables Labs Launches Recovery Plan for USDX Stablecoin After Depeg Event

The algorithmic stablecoin USDX experienced a significant price decline of 64%, dropping to around $0.35-$0.38 after depegging on November 7, 2025. Stables Labs has initiated a recovery plan to restore the stability of USDX on Binance Smart Chain and Arbitrum. This action follows increased trading activity and requests for transparency from the market following the incident. The company will utilize a claim registration window based on an on-chain snapshot to ensure holder transparency. 65% of USDX’s market cap has been wiped out, declining to $243 million. The sudden price drop resulted in significant redemptions and panic sales by stakeholders.