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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’s stablecoins are struggling… again

Justin Sun-linked stablecoins, including TUSD, have been struggling amid rumors that Prime Trust had paused minting and redemptions.

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.

Control of the private keys for TrueUSD have been transferred to Techteryx, a mysterious conglomerate in Asia with ties to Justin Sun.