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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.

Poloniex proof-of-reserves and WBTC backing missing

Poloniex’s promised proof-of-reserves is still missing as it refuses to disclose the backing for WBTC on Tron.

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

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.