Falcon USD stablecoin (USDF) depegged to $0.9783, sparking concerns over liquidity & collateral quality. Unlike fiat-backed coins, USDF is backed by digital assets. Holdings are down to $5.51M, with accusations of "bad debt" & illiquid collateral (like MOVE token). Falcon Finance claims 116% overcollateralization (89% stablecoins/BTC), but community remains skeptical due to reserve control & disclosure issues. #stablecoin #crypto #FalconUSD #USDF