On October 10, the new stablecoin USST, launched by the stablecoin platform STBL, fell below the $1 anchor price within hours of the launch of the Curve platform, falling as low as $0.96. One of the co-founders of the STBL platform is also a co-founder of Tether, and the unanchoring incident has raised market concerns about the credibility of the project.
According to data from Gecko Terminal, as of press time, USST is trading at around $0.9746, a decline of 1.75% in 24 hours; its market capitalization is around $963,900, with only 53 holders.
Tether co-founder's stablecoin USST was unanchored hours after it went live
2025-10-11 04:02:32
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