Alright degenerates, it’s time to check out the drama heating up in the Synthetix world. It’s like a reality show where your life savings in crypto are at stake. At the same time, the celebrity judge is going full Gordon Ramsay on these poor contestants. Fortunately, the founder, Kain Warwick,...
Synthetix, a decentralized finance (DeFi) protocol, is facing challenges with its stablecoin, sUSD, which has experienced instability and deviations from its intended 1:1 peg with the US dollar since the beginning of 2025. On April 18, sUSD fell to $0.68, a 31% decline from its dollar peg. In reaction, Synthetix...
The landscape of decentralized finance (DeFi) can be ruthless. When a stablecoin departs from its peg, it sends ripples throughout the ecosystem. Most recently, sUSD — the Synthetix network stablecoin — experienced a significant depeg. On April 18, its price dropped below that value, falling as low as $0.68. This...
Synthetix’s sUSD stablecoin is teetering, and founder Kain Warwick isn’t pulling any punches. He’s fully prepared to use “the stick” against SNX stakers to force sUSD back to its $1 peg. This situation is very extreme. Can we really afford to say his approach doesn’t matter when a fundamental part...
