Stream Finance, a DeFi yield-optimization and asset management protocol whose xUSD token collapsed after a reported $93 million loss, has started collecting claim information from potential creditors and users.
The project said in a June 29 post on X that the form is part of "the next steps toward a potential global resolution" and is meant to collect and confirm information from potential creditors and claimants.
The company also warned that the form isn't the same as an approved payout or confirmed legal claim.
- The DocuSign form reviewed by The Coinformer asks users to provide contact information, a claim amount, a claim description, holding type, wallet addresses and balances for assets including xUSD, xEUR, xBTC and xETH.
- The form also says it's not an official claims form and that users should receive an email within about five business days after submission with a link to validate wallets that hold an economic interest in Stream.
What is Stream Finance
The claims step comes after Stream Finance revealed in November last year that an external fund manager had reported a roughly $93 million loss, prompting the protocol to suspend deposits and withdrawals while it investigated the incident.
Stream Finance's collapse spread beyond the protocol itself because users deposited stablecoins, Bitcoin or Ethereum-linked exposure and received xAssets such as xUSD, xBTC and xETH, which had also been used as collateral across other DeFi lending markets.
- At the time, xUSD lost most of its dollar value within roughly a day, while lending markets and vaults tied to Stream exposure started unwinding.
- The blowup also revived questions about circular lending loops, where protocols recycle collateral and borrowed assets through each other in ways that inflated reported growth while hiding the real risk.
- At the time, DeFi giants including Morpho, Euler, Silo and Gearbox had different levels of exposure to Stream-linked assets.
As Thomas Braziel, founder and managing partner of 117 Partners, an advisory firm focused on crypto bankruptcy claims, noted in an X post, the claim form's privacy policy points to Stretto, a well-known claims administration firm, and may indicate that Stream Finance has begun a "coordinated out-of-court liquidation/administration process."
- Braziel said Stream Finance may choose either an assignment for the benefit of creditors or a Delaware state-court liquidation, both of which would let the company wind down outside federal bankruptcy court while assets are collected, sold and distributed to creditors.
- But that hasn't been confirmed by Stream Finance as the project hasn't publicly said that it hired Stretto, entered liquidation or selected a legal process.
- Stream Finance also has a separate court fight tied to the missing funds.
- In December 2025, DL News reported that Stream Trading Corp., the company tied to Stream Finance's founders, sued business partner Caleb McMeans and Georgia resident Ryan DeMattia in federal court in San Francisco, alleging DeMattia used the $93 million in Stream Finance's assets to cover personal losses after a margin call during the notorious Oct. 10 crypto crash wiped out about $20 billion in leveraged positions across the whole market.