Huobi monetizes FTX collapse with opaque debt token
Justin Sun’s Huobi has announced it will list the FTX User Debt (FUD) token issued by the DebtDAO, though details are sparse.
Justin Sun’s Huobi has announced it will list the FTX User Debt (FUD) token issued by the DebtDAO, though details are sparse.
It’s official: Justin Sun helps run Huobi and is a major shareholder. But why did it take this long for the company to admit it?
With no recent capital injections or incentives for short-sellers, solving problems with USDD and USDJ doesn’t seem to be a priority for Sun.
Rumors have been swirling about Huobi’s insolvency and employee cuts. Now, advisor Justin Sun confirms 20% of staff will be let go.
Justin Sun’s stablecoin USDD has been unable to maintain a price of $1.00 ever since FTX and Alameda went bankrupt. What’s the deal?