Upbit and Bithumb Suspend Synthetix Deposits Citing sUSD Volatility Threats

  • TL;DR Upbit and Bithumb suspended SNX deposits following a DAXA warning over risks posed by sUSD's instability. The drop of sUSD to $0.68 and SNX's 26% plunge set off alarms on Upbit and Bithumb, triggering restrictions and warnings.