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Altura has wound down its stablecoin vault after what the company's chief executive described as an "unprecedented level" of withdrawal requests.
The CEO attributed the pressure in part to market speculation, remarks that appeared to point toward contagion fears tied to the depegging of Main Street's msUSD stablecoin.
The sequence is a familiar one: one protocol's peg stress becomes another protocol's bank run. The Mechanism Behind the Rush The word the CEO used — speculation — is doing real work here.
It means depositors did not wait to learn whether Altura had direct exposure to msUSD; they assumed risk and moved their funds first.
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