Analyst: Binance USDe Briefly Depegs Again, but "1011"-Style Risk Contagion Unlikely to Repeat

Odaily reports: Crypto analyst CM posted on X that Binance USDe has once again experienced an abnormal depeg, briefly falling to around $0.92. In the previous "1011" incident, USDe also depegged first, while on-chain prices never showed any anomaly.

CM noted that USDe has relatively thin order book depth on CEXs, and can also serve as collateral for futures position opening, which is where the risk contagion of the 1011 event began. However, Binance has since incorporated USDe's actual redemption price into its price index, rather than relying solely on order book quotes, so in theory, a repeat of 1011 is unlikely.