apxUSD Loses Dollar Peg as Bitcoin Slide Squeezes STRC-Backed Collateral
➤ Apyx Finance's apxUSD stablecoin lost its dollar peg, trading as low as $0.90 due to a sharp decline in Bitcoin and its primary collateral, STRC preferred stock. ➤ The depeg was exacerbated by a liquidity mismatch between 24/7 crypto markets and the Nasdaq-traded STRC, leading to panic selling and price dislocations. ➤ Apyx Finance plans to release a review of the incident and implement changes to mitigate future volatility, particularly during off-hours trading.













