The stablecoin apxUSD, backed by Strategy's $STRC preferred shares, experienced its first significant stress test as its value fell to 90 cents. This decline occurred as the value of STRC shares dropped below par, coinciding with a downturn in Bitcoin prices. The event highlights the volatility and risks associated with stablecoins tied to specific asset classes.
apxUSD Stablecoin Faces Stress Test, Drops to 90 Cents
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