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Is Aave’s ‘Balance Protection’ backed by Relm — an FTX insurer?

The DeFi community has voiced concerns around who and what is covered by Aave’s million-dollar “Balance Protection” for app users.

Justin Sun’s Poloniex and HTX withdraw huge amounts from AAVE

Justin Sun-owned HTX and Poloniex have both used exchange wallets to withdraw hundreds of millions from 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.

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.