On-chain data shows Justin Sun controls virtually all stUSDT
Around 99% of stUSDT is controlled by Justin Sun and Justin Sun-connected entities such as Huobi, despite lacking the promised DAO.
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Around 99% of stUSDT is controlled by Justin Sun and Justin Sun-connected entities such as Huobi, despite lacking the promised DAO.
Read more (3 min) →— Huobi, Justin Sun
stUSDT, a form of staked tether invested in "real world assets" that pays yield to users, is highly centralized.