MainStreet-linked MSUSD plunges 85% as Morpho msY/USDC hits 100% utilization and $18M exposure
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Promote with Leviathan NewsPeckShield says MainStreet-linked MSUSD fell as much as 85%, while Morpho’s msY/USDC market hit 100% utilization and AlphaUSDC Delta V2 has 30% exposure, roughly $18M, to the market. The sell-off followed Accountable ending its MainStreet verification agreement after saying the protocol failed its standards. MainStreet says assets remain fully backed, blames a third-party proof-of-reserves dashboard shutdown rather than insolvency, and says it has deployed over $8M USDC to support liquidity.
TLDR by @Benthic
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