Bitcoin24h $68,036.26-4.11%

Ethereum24h $1,973.30-5.09%

BNB24h $626.06-3.42%

XRP24h $1.36-2.71%

Solana24h $84.32-4.66%

TRON24h $0.2841-0.52%

Dogecoin24h $0.0910-2.69%

Cardano24h $0.2583-4.21%

Bitcoin Cash24h $447.76-2.58%

UNUS SED LEO24h $9.05+0.02%

Poloniex exit leaves Ethereum stUSDT nearly abandoned

Poloniex has withdrawn from Staked USDT (stUSDT) on Ethereum, vastly dropping the utilization of the protocol.

Justin Sun reveals Poloniex issues prevent proof of reserves

Poloniex has a page on its website titled ‘Proof of Reserves,’ but this only shows how much Tron is on the platform.

The WBTC/BTC pair looks to have been removed from Poloniex completely, and the WBTC/USDT pair states, “Currently trading is disabled.”

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