<ul data-eligibleForWebStory="false"><li>Analysts and DeFi risk monitors are raising red flags about the new stablecoin USDf, as only a fraction of its reserves are on-chain.</li><li>Approximately $25 million of USDf's reserves are on-chain, while the majority, about $610 million, is held off-chain in unspecified assets.</li><li>Critics express concerns about the lack of transparency, with just 15% of reserves being stablecoins and 85% listed vaguely as 'other'.</li><li>The controversy surrounding USDf has led to warnings of systemic risks, especially after a $9 million hack involving a platform that included USDf in lending systems.</li></ul>

Concerns Mount Around New Stablecoin

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