Haseeb, a partner at Dragonfly, has clarified that claims of USDe depegging are misleading. While USDe briefly dropped to $0.68 on Binance, its price on Curve, a major liquidity platform, only fluctuated by about 0.3%, indicating stable peg maintenance. Haseeb attributes the anomaly to systemic issues on Binance during extreme market volatility, including API failures, oracle pricing errors, and lack of direct minting and redemption channels, which triggered liquidation mechanisms erroneously. Overall, the incident is seen as a Binance-specific price dislocation rather than a failure of the USDe mechanism or a true depeg.
Dragonfly Partner Haseeb: USDe Depeg Claims Misleading
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