Stream Finance: Encountered a $93 million asset loss, has suspended withdrawals and initiated an investigation

According to the official announcement, Stream Finance stated that an external fund manager disclosed a loss of approximately $93 million in the Stream funds they oversee. Stream has hired attorneys Keith Miller and Joseph Cutler from the law firm Perkins Coie LLP to lead a comprehensive investigation.

Currently, Stream is withdrawing all liquid assets and has announced a suspension of all deposit and withdrawal operations, with regular updates on related progress to follow. Earlier today, PeckShield stated that Staked Stream USD (XUSD) has depegged by about 23%.