Stablecoin Plunges 98% in 24 Hours, Sparks Rug Pull Allegations

Early connected Oct. 26, the U.S. dollar worth of Essence Finance’s decentralized stablecoin, CHI, plunged by much than 90% aft rumors emerged that much than $20 cardinal of collateral had been removed. According to Geckoterminal data, the worth of the stablecoin, which usually trades astatine par with the U.S. dollar, dropped by astir 98% to […]