Foresight News reports that digital asset management company Farm Capital posted on Twitter that its on-chain yield strategy product mFARM has borrowed 1.09 million USD from the Silo sUSDX·USDC market (Arbitrum platform ID 127) and is currently unable to withdraw. In the worst-case scenario, this 1.09 million USD could become a bad debt, resulting in a total loss. The team is actively seeking the recovery of the sUSDX market and will do its best to recover the funds. Farm Capital will bear more than 50% of the bad debt, some of which has already been transferred through over-the-counter trading. The price of mFARM will be updated within the next 48 hours, after which exchanges will resume normal operation. Users who cycle mFARM/USDC on Euler or Morpho should monitor the health factor and liquidation price to avoid being liquidated after the mFARM price adjustment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Circle: Nanopayments is now live on the testnet
ChainCatcher News: Stablecoin issuer Circle announces that its micro-payment service "Nanopayments" is now live on the testnet, supporting ultra-small USDC transactions as low as $0.000001, with zero Gas fees and AI agent support.
GateNews7h ago
Circle Stock Surges 60% After Earnings as USDC Growth and GENIUS Act Boost Investor Confidence
Circle's stock surged 15% after reporting strong growth in USDC, with supply rising 72% and revenue increasing 77%. Clearer U.S. regulations boosted investor confidence, reinforcing Circle's position in the digital asset market.
TheNewsCrypto10h ago
A newly created wallet deposits $1,135,000 USDC to open a 3x leveraged NVDA long position, with a position value of $2.6 million.
Odaily Planet Daily reports that, according to Onchain Lens monitoring, the new wallet 0x28F deposited 1,135,000 USDC into HyperLiquid and opened a 3x leveraged NVDA long position on tradexyz, with a position value of $2.6 million.
GateNews12h ago
Circle stock soars 60%! The surge in USDC volume and favorable regulations for stablecoins continue to drive CRCL's strength
Circle's stock price continues to rise, with a total increase of nearly 60%. Its stablecoin USDC supply has grown by 72% year-over-year, with annual revenue reaching $770 million. Analysts believe that increased demand for stablecoins and clear US regulatory policies are the main driving factors, and Circle is being seen as a key player in digital payments.
GateNews16h ago
U.S. 303-page Housing Bill Hidden CBDC Ban, White House Endorses
The "21st Century Housing Roadmap Act" proposed by the U.S. Senate includes a provision that bans the Federal Reserve from issuing Central Bank Digital Currencies (CBDC), with the ban remaining in effect until 2030. The bill aims to reduce housing costs and support the development of private stablecoins. The White House has expressed support for the bill, emphasizing that preventing CBDC development is a current policy priority. Bipartisan lawmakers have reached a consensus on this issue, making it a cooperative clause that can transcend party divisions.
MarketWhisper19h ago
Huang Licheng deposited 250,000 USDC into HyperLiquid again 7 hours ago and increased his ETH long position.
PANews March 3 News, according to Onchain Lens monitoring, 7 hours ago, "Brother Magji" Huang Licheng deposited another 250,000 USDC into HyperLiquid and increased his ETH 25x long position. Over the past six months, Brother Magji has lost approximately $74.08 million, changing from a profit of over $44.8 million to a loss of over $29.23 million.
GateNews19h ago
