Third-Largest Stablecoin Briefly Loses Dollar Peg in Crypto Rout

Bloomberg TechnologySaturday, October 11, 2025 at 9:15:49 AM
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Third-Largest Stablecoin Briefly Loses Dollar Peg in Crypto Rout
The recent market rout has caused Ethena's yield-bearing stablecoin to briefly lose its dollar peg, highlighting the volatility and risks associated with cryptocurrencies. This incident is significant as it reflects the broader instability in the crypto market, which has seen record liquidations, raising concerns among investors about the reliability of stablecoins.
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