Stablecoins experienced the largest weekly outflow since the Luna crash, totaling 1 billion dollars

In the past week, stablecoins experienced the largest outflow of funds since the collapse of UST during the Luna crisis in 2022, totaling $1 billion. Stream Finance's xUSD directly went to zero due to a loss of $93 million in fund assets, while Coinshift's csUSDL saw its TVL drop by 95%, leaving only $1.92 million. Elixir's stablecoins deUSD and sdeUSD also faced simultaneous liquidity crises.