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.
- Tether executives have brushed shoulders with crime since its inception
- Floor price of Stoner Cats NFTs up 250% after SEC action
- Soulja Boy and Austin Mahone lose to SEC, Justin Sun still to respond
- Fortress Trust says ‘no loss of funds’ as its customers’ crypto was stolen
- X keeps 99% of ad revenue from most creator payouts
- David Bailey accuses Barry Silbert of using customer funds to pump GBTC
- Joseph Bankman warned Scaramucci about FTX
- Family office Nima Capital unofficially exits from Synapse token
- Another Binance executive jumps ship amid regulatory woes