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Justin Sun’s empire crumbles as USDD depegs again

Sun’s USDD is meant to stay priced at a dollar via a series of algorithmic mechanisms but it’s deviated 3% and currently trades for $0.97.

Poloniex WBTC depegs threatening Justin Sun’s empire

Poloniex, a Justin Sun-owned exchange, offers a WBTC product on Tron that’s currently trading at a more than 20% discount on Poloniex.

Sun had previously asked for the suit, which alleges that he sold unregistered securities to US investors, to be dropped.

This dramatic fall in the market cap of TrueUSD follows Binance’s delisting of several TrueUSD pairs on March 15.

Justin Sun spent $28 million on a trip to space through Jeff Bezos’ Blue Origin. However, he’s so far missed six launches.