$PMUSD collapses 90% after Pharos Watch thread on the ‘stablecoin’ highlights the collateral backing is actually gold (but it its in-situ…

Rickler Feed (@rickler_feed), May 4, 2026, 18:17 UTC

$PMUSD collapses 90% after Pharos Watch thread on the ‘stablecoin’ highlights the collateral backing is actually gold (but it its in-situ, which means its yet to be extracted). - 𝕏/@PharosWatch 🏷️ Stablecoins, Gold, Pharos 🕵️ @ssmccul

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