DeFi Users Fret ‘Contagion’ Risk Amid Possible Stablecoin Depegging

Posted on by American Coins & Gold

DeFi Users Fret ‘Contagion’ Risk Amid Possible Stablecoin Depegging
A scandal has rocked investor faith in a popular stablecoin, and as users rush to exit, the clamor is threatening to throw the asset off its dollar peg.Even worse, however, some observers worry that one stablecoin losing its peg could have a “contagion” effect, diminishing the value of multiple stablecoin assets as well.On Thursday, popular on-chain analyst zachXBT revealed on Twitter that the pseudonymous CFO of DeFi project Wonderland was in fact Michael Patryn, the co-founder of the notorious fraudulent Canadian crypto exchange QuadrigaCX.Read more: How Did a Former Quadriga Exec End Up Running a DeFi Protocol? Wonderland Founder ExplainsThe…