Bitcoin24h $85,272.02-2.51%

Ethereum24h $1,912.36-5.71%

XRP24h $2.23-5.83%

BNB24h $629.03-1.37%

Solana24h $131.16-4.99%

Dogecoin24h $0.1814-7.58%

Cardano24h $0.7005-5.14%

TRON24h $0.2307-1.23%

Toncoin24h $3.99+3.51%

Chainlink24h $14.34-8.06%

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Poloniex has withdrawn from Staked USDT (stUSDT) on Ethereum, vastly dropping the utilization of the protocol.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