Bitcoin24h $118,109.27+1.59%

Ethereum24h $3,730.06+2.36%

XRP24h $3.17+3.70%

BNB24h $780.30+0.56%

Solana24h $185.85+2.67%

Dogecoin24h $0.2367+4.42%

TRON24h $0.3195+0.81%

Cardano24h $0.8277+4.17%

Hyperliquid24h $43.85+2.13%

Sui24h $4.21+12.35%

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Poloniex has withdrawn from Staked USDT (stUSDT) on Ethereum, vastly dropping the utilization of the protocol.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