Stream Finance
defunctCollapsed yield stablecoin (xUSD) at center of 2025 DeFi contagion
About
Stream Finance issued xUSD, a yield-bearing 'stablecoin' marketed with ~18% APY backed by leveraged and off-chain strategies. On November 4, 2025 it disclosed a ~$93M loss tied to an external fund manager; xUSD crashed roughly 77-82% from $1 toward $0.20s, freezing ~$160M in deposits and triggering over $285M of contagion across DeFi, including the near-total collapse of Elixir's deUSD. The protocol is effectively insolvent.
Stablecoins
Key products
Chains
- Founded
- 2024
- HQ
- Remote
- Stage
- Collapsed
- Funding
- Private
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