Elixir's deUSD Stablecoin Crashes to $0.015 Following Stream Finance $93 Million Default

Elixir has suspended redemptions for its deUSD stablecoin after borrower Stream Finance defaulted on $68 million in outstanding debt. Stream Finance reported $93 million in trading losses that triggered the collapse. The synthetic dollar token plummeted to $0.015 within hours as reserves failed to maintain the 1:1 peg.