apxUSD Loses Dollar Peg as Bitcoin Slide Squeezes STRC-Backed Collateral

Apyx's apxUSD, a dividend-backed stablecoin collateralized largely by the preferred shares of bitcoin-treasury companies, broke its $1 peg this week, falling to about 92 cents as Strategy's STRC preferred stock dropped below par and bitcoin extended a steep selloff. The stablecoin slipped to… Read the full story at The Defiant