Overview
- Stream suspended all deposits and withdrawals after an external fund manager reported losing about $93 million of its assets.
- Perkins Coie has been retained to lead the inquiry, with attorneys Keith Miller and Joseph Cutler named to oversee the investigation.
- Stream says it is withdrawing remaining liquid assets and will provide periodic updates, while offering no timeline to resume operations.
- xUSD depegged sharply following the disclosure, trading as low as roughly $0.26 according to market trackers, with xBTC and xETH also under pressure.
- On‑chain analysts estimate roughly $280–285 million in loans are secured by Stream‑related collateral across Euler, Morpho, Silo and others, with large exposures reported for TelosC, Elixir and MEV Capital as some markets rely on non‑spot oracles that can delay liquidations.