Bitcoin24h $111,359.97-0.49%

Ethereum24h $4,337.39-2.79%

XRP24h $2.82-1.01%

BNB24h $848.43-0.75%

Solana24h $204.33-2.68%

Dogecoin24h $0.2139-3.14%

TRON24h $0.3355-1.61%

Cardano24h $0.8163-2.59%

Hyperliquid24h $45.78-0.51%

Chainlink24h $22.52-5.03%

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.