律动BlockBeats|Oct 29, 2025 06:15
[CBB Issues Reminder About High Leverage Risks of Stream's xUSD, Team Responds with Claims of Over-Collateralization and Plans to Improve Transparency]
BlockBeats News, October 29: Crypto KOL CBB0FE issued a reminder stating, 'Stream's xUSD is backed by only about $170 million in on-chain assets, yet it has borrowed approximately $530 million from various lending protocols. This means its leverage is as high as 4.1x—built on top of a large number of highly illiquid positions.
This is not "yield farming," but outright degenerate gambling with leverage. Stay away from it. Do not touch any Morpho/Euler vaults related to this.'
In response, Stream's founder stated, 'We are integrating third-party attestors this week. Currently, xUSD is fully collateralized and over-collateralized, with an insurance fund in place. Most of the funds are distributed across CEXs and DEXs that Debank has not yet tracked. This lack of transparency will soon be resolved.
xUSD was never designed to be a stablecoin. If the crypto Twitter (CT) community has misunderstood it as a stablecoin, that is our fault for miscommunicating. xUSD is actually a "tokenized market neutral fund," allowing ordinary investors to access real yields that were previously only available to private hedge funds and quantitative institutions.'
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