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Tether co-founder's stablecoin USST unpegged hours after launch.
Golden Finance reported that on October 10th, the newly launched stablecoin USST by the stablecoin platform STBL fell below the $1 peg price within hours of going live on the Curve platform, hitting a low of $0.96. One of the co-founders of the STBL platform is also a co-founder of Tether, and this decoupling event has raised concerns in the market about the project's credibility. According to data from GeckoTerminal, as of the time of writing, the trading price of USST is approximately $0.9746, with a 24-hour fall of 1.75%; its market capitalization is about $963,900, with only 53 holders.