Decentralized finance protocol Neutrl has suspended minting and redemptions for its synthetic dollar NUSD after unspecified circumstances affected protocol reserves. With approximately $53.6 million in NUSD in circulation, the suspension prevents approved counterparties from exchanging the token for its backing assets. The protocol has not identified the affected asset or counterparty, nor indicated whether reserves suffered a realized loss. According to RWA.xyz, NUSD had a market capitalization of approximately $53.6 million on Friday, down 18.4% over 30 days.
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