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Home › Crypto › Magic Internet Money Falls 50% Below…
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Magic Internet Money Falls 50% Below Peg as Abracadabra Declares Emergency

The Defiant Jun 25, 2026 3h ago ⏱ 1 min read 👁 2 views
Magic Internet Money Falls 50% Below Peg as Abracadabra Declares Emergency
Image via The Defiant
📋 Article Summary
49 words
Abracadabra.money declared emergency measures after its MIM stablecoin fell roughly 50% below its $1 peg, triggering interest rate hikes across all Cauldrons, a halt to Curve bribes, and a suspension of direct incentives. This story was reported by The Defiant. For more Crypto news in Kenya, stay tuned to Masaa.
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