One wallet bought heavily into a yield token, which pushed the price of its paired principal token down just enough to trigger liquidations across borrowers using it as collateral.

  • A roughly 3% decline in PT-reUSD triggered about $36.4 million in liquidations on Morpho after a large YT-reUSD trade pushed the token’s price lower.
  • Borrowers had repeatedly used PT-reUSD as collateral to borrow USDC and buy more PT-reUSD, leaving their leveraged positions with less than 3 percent of protection against liquidation.
  • Pendle said the price feed worked as designed, while Steakhouse Financial reported that lenders suffered no losses, no bad debt was created and the underlying reUSD asset was unaffected.
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The Definitive Stablecoin Landscape Series: Asia Pacific

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Why it matters :

As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.

Once a $2 billion Ethereum layer-2, Blast is shutting down after assets plunge 98%

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