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Justin Sun-advised Huobi controls 85% of ‘decentralized’ stUSDT

stUSDT, a form of staked tether invested in “real world assets” that pays yield to users, is highly centralized.

Justin Sun and Huobi play shell game with ownership

Justin Sun no longer does business as a Chinese citizen but he has been establishing firms in Hong Kong with his St. Kitts and Nevis identity.

Justin Sun continues to deny any controlling ownership of Huobi, instead claiming that he’s merely an investor who helps to run things.

Sun has an interest in cleaning up Huobi’s reputation after the collapse of the exchange’s $1 HUSD stablecoin.