Altura Winds Down Stablecoin Vault After 8.5M USDT Redemptions Sparked by msUSD Depeg Panic

ALU-2.44%
According to Crypto.news and CEO Ranveer Arora's public statements, Altura has begun winding down its stablecoin yield vault after processing over 8.5 million USDT in redemptions triggered by market panic around MainStreet's msUSD depeg. Although Altura had no direct exposure to msUSD, the protocol faced withdrawal pressure because both projects were linked through Accountable, a proof-of-reserve provider, which was enough to spark user confidence concerns. Arora noted the wind-down was orderly and driven by sustained withdrawal demand and market sentiment rather than any direct loss.
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