Bitcoin24h $98,444.74+5.19%

Ethereum24h $3,372.77+10.85%

Solana24h $257.98+11.10%

BNB24h $623.93+3.51%

XRP24h $1.23+13.76%

Dogecoin24h $0.3862+3.48%

Cardano24h $0.8040+1.41%

TRON24h $0.2003+3.11%

Avalanche24h $36.08+8.65%

Shiba Inu24h $0.0000+4.37%

Poloniex exit leaves Ethereum stUSDT nearly abandoned

Poloniex has withdrawn from Staked USDT (stUSDT) on Ethereum, vastly dropping the utilization of the protocol.

ChainArgos: Justin Sun’s JustLend doesn’t send ‘stables’ where advertised

USDT that customers once held on Huobi is now daisy-chained into JustLend, a ‘decentralized’ lending protocol dominated by Sun.

Around 99% of stUSDT is controlled by Justin Sun and Justin Sun-connected entities such as Huobi, despite lacking the promised DAO.

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