USST, a stablecoin launched by STBL on October 10, 2025, depegged from its $1 target within hours of its debut on Curve, falling to $0.96. Currently, USST is trading at approximately $0.9776 with a market cap of $967,000 and 52 holders. The Curve pool reports $965,000 in liquidity and $484,000 in 24-hour trading volume, with net outflows of $466,000. STBL, co-founded by former Tether CEO Reeve Collins, announced a partnership with Ondo Finance to back up to $50 million in USST mints with USDY, a yield-bearing asset. Analysts attribute the depeg to liquidity issues, cautioning that unresolved problems could threaten the project's stability. STBL's governance token has also dropped 18% to $0.17.