Altura Winds Down Stablecoin Vault After $8.5M in Redemptions Over 24 Hours

According to CEO Ranveer Arora, DeFi protocol Altura announced Sunday that it will begin an orderly wind-down of its stablecoin yield vault after processing over $8.5 million in instant USDT redemptions over the preceding 24 hours amid unprecedented withdrawal requests.

The wind-down was triggered by contagion fears following Main Street's msUSD stablecoin crash of over 70% on Saturday, after proof-of-solvency provider Accountable terminated its service agreement with the issuer due to verification failures. Although Altura stated it has no direct exposure to Main Street, the depegging sparked substantial withdrawal pressure. Altura's vault, which reached a peak total value locked of $39 million on HyperEVM, allocates stablecoin deposits across funding-rate arbitrage, market making, and real-world asset strategies. The protocol has notified counterparties and begun unwinding positions across exchanges and credit strategies.