Stream Finance Faces $93 Million Loss, Launches Legal Investigation

DeFi platform Stream Finance has initiated a legal investigation, engaging the law firm Perkins Coie LLP, after an external fund manager revealed a loss of approximately $93 million in the firm's assets. In response, Stream has temporarily suspended all deposits and withdrawals and is in the process of withdrawing its liquid assets. The firm stated that retaining Perkins Coie LLP, led by attorneys Keith Miller and Joseph Cutler, reflects its commitment to transparency and robust governance. This significant loss creates uncertainty regarding settlements involving holders of Stream's tokens like xUSD, xBTC, and xETH, especially since xUSD is widely used as collateral across various lending markets, with total related outstanding loans potentially exceeding $280 million.

(Source：CoinDesk)