Main Street msUSD Stablecoin Collapses After Depeg Amidst On-Chain Liquidations

The decentralized stablecoin msUSD, issued by the Main Street protocol, has lost its dollar peg. The stablecoin collapsed on June 20, 2026, following a cascade of liquidations and significant collateral imbalances that appeared on-chain. Main Street’s msUSD stablecoin has depegged from the US dollar. The collapse occurred due to...
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