THORChain (RUNE) holders are facing more bad news as the token price plummets amid reports of a $199 million liability. Withdrawals of Bitcoin and Ethereum have been suspended within THORChain's lending and savings programs. The token has dropped nearly 30% in value to $1.90 and has fallen a further 45% to $1.08, its lowest value since 2020. Founder John-Paul Thorbjornsen has faced scrutiny for potential conflicts of interest, and a screenshot of a private chat revealed that an influential THORChain node had sold all their RUNE. Despite the internal struggles, the THORChain community voted in favor of a proposal aimed at getting users liquid again and converting defaulted debt to $TCY equity. The proposal aims to make users whole, increase capital efficiency, and attract new liquidity to the protocol. The future of THORChain remains uncertain as it navigates these challenges.



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