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ChainCatcher news, Re7 Labs has released an update on the xUSD depegging incident, stating that it has engaged the law firm Pillsbury Winthrop Shaw Pittman to investigate the situation and provide advice on formal legal options, including asset recovery. Previously, Re7 Labs had contacted Stream Finance and Stables Labs multiple times but did not receive satisfactory responses. The lawyers have now sent legal notices to the relevant parties, demanding repayment and preservation of evidence. Currently, the Morpho Worldchain sdeUSD position has been fully restored, and the treasury risk exposure has been reduced by more than 50%.

Jinse Finance reported that Alliance co-founder @QwQiao recently reiterated his warning about the cryptocurrency market, stating that he "pretty much" agrees with his previous prediction. He had warned that the next bear market would be more severe than most people expect, mainly because a large amount of "dumb money" with little knowledge of cryptocurrencies is buying digital asset trading platforms (DAT) and ETF products. He believes that this situation "never ends well," and predicts that the market may need to experience a pullback of about 50%. Only after these investors have cleared their positions can the market establish a solid foundation and resume supercycle growth. Although he did not provide a specific timeline, this reiteration shows that he remains firm in his prediction.