Chain Articles > Blog > Coinbase > DWF Labs-backed USDf depegs as red flags raised over quality of backing

DWF Labs-backed USDf depegs as red flags raised over quality of backing

posted on Feb. 04, 2026 at 8:20 pm

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So-called “synthetic dollar” USDf, which is backed by controversial market maker DWF Labs, is off-peg and has hit a low of $0.98.

Felicity ShortFebruary 4, 2026

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