Topic: #collateral
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ApxUSD stablecoin drops to 90 cents as Bitcoin collateral falters
ApxUSD, a dividend-backed stablecoin collateralized by Bitcoin-correlated preferred shares, dropped to $0.90–$0.93 on June 4 when its STRC collateral fell alongside Bitcoin's decline below $63,000. Apyx Finance characterized the depeg as expected, not a model failure.