💥 The depeg incident of USD1 on 23/2/2026 (dropping to a low of about 0.994 USD, even ~0.98 on Binance) is not very serious, just a short-term fluctuation.
✨ Quick summary:
Level: Just a deviation of ~0.6% (or a bit deeper on some exchanges), lasting from a few minutes to 30 minutes → quickly bouncing back to ~0.998-0.999 USD.
Reason: WLFI (World Liberty Financial) referred to as "coordinated attack" – hack of co-founder's account X, spreading FUD (bad news), opening large short WLFI to profit from panic sell. No hack of smart contract or reserves.
Why the quick recovery: USD1 backed 1:1 by USD + Treasuries (through BitGo), the mint/redeem mechanism works well → arbitrageurs buy the dip pushing the price back to peg. There is no bank run or large capital withdrawal.
Impact: Token WLFI dropped ~7-8% intraday but recovered somewhat. Market cap USD1 remains stable (~$4.8-5 billion), not collapsing like TerraUSD.
✨ Comparison:
Not like the deadly depeg of UST 2022 - lost everything.
Similar to the slight wobbles of USDT/USDC in the past – normal in new stablecoins or concentrated liquidity (Binance holds ~93% supply → easily affected by FUD).
💦 Conclusion:
This is mainly a FUD attack (psychological attack), the system remains resilient. It's not a real reserves issue. Holding USD1 currently remains safe (has been pegged), but needs to monitor further transparency (audit, proof-of-reserves) and news from ZachXBT (report insider trading on 26/2). No need to panic sell, but don't consider it zero-risk like USDC/USDT.
Thúy BNB
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⚠️ Disclaimer
This article is for informational and educational purposes only, NOT investment advice.
Cryptocurrency (crypto) carries high risks; you could lose your entire investment.
Always DYOR (Do Your Own Research before investing).
Only invest the amount of money you can afford to lose.
😍 Thank you for reading! If you have any comments or opinions, please leave them below! 😘