Today's Major Daily Puzzle Durov for November 1-2, 2024

- PENGU USDT's 2025 depegging to $0.715 and $66.6M team withdrawals exposed systemic risks in algorithmic stablecoins. - Cascading failures in Ethena USDe and Staked Stream USD revealed liquidity crises exacerbated by smart contract flaws and macroeconomic shocks. - The U.S. GENIUS Act mandated 1:1 fiat backing for stablecoins, accelerating market shift toward compliant fiat-backed alternatives like USDC . - Investors now prioritize stablecoins with transparent reserves and robust governance amid regulator

- Pudgy Penguins (PENGU) token dropped 30% in late November 2025, sparking debate on systemic risks vs. undervaluation. - Analysts highlight valuation dislocation, with forecasts ranging from $0.015 to $0.068, amid broader crypto market instability. - Technical indicators and extreme Fear & Greed Index (28) signal volatility, while ecosystem utility remains a key uncertainty. - Investors must balance short-term risks with long-term potential, as PENGU's future depends on community resilience and macroecono