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Justin Sun defends HTX while it lends 92% of its USDT on Aave

Justin Sun has taken to X to defend HTX’s reserves, however, a close review reveals HTX is lending 92% of its USDT on Aave.

Nobody knows why HTX is juggling $1B USDT on Aave •

HTX, the Justin-Sun advised exchange, has been depositing and withdrawing hundreds of millions of dollars worth of USDT on Aave.

Donald Trump-affiliated World Liberty Financial has yet to launch its AAVE instance six months after the governance vote approving it.

Justin Sun-advised HTX withdrew $570M from Aave, briefly spiking borrowing and lending yields, before depositing $600M back into the protocol.

While keen to avoid being labeled as a stablecoin, Ethena’s USDe is being used as such across some of DeFi’s biggest players.