A stablecoin tied to Strategy stock depegs putting a new DeFi dollar risk in focus as Bitcoin sells off

Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus. A Bitget report said the token briefly touched $0.93 during the selloff. The report framed Apyx's response… Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus. A Bitget report said the token briefly touched $0.93 during the selloff. The report framed Apyx's response as a design point: apxUSD's reserve risk is largely borne by Strategy's STRC preferred stock, […] The post A stablecoin tied to Strategy stock depegs putting a new DeFi dollar risk in focus as Bitcoin sells off appeared first on CryptoSlate.