Synthetic stablecoin depegs, like those of USDe and xUSD, triggered massive liquidations and eroded market confidence in 2025. The USDe de-peg on October 10 caused a 40% price drop, wiping out nearly $20 billion in positions, while xUSD's issues led to $93 million in losses and $40 billion in DeFi liquidity evaporation. USDe de-peg on [...]
