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61% of USDD collateral now in one vault — funded entirely by HTX

Justin Sun’s USDD is receiving most of its assets from HTX and is depositing them into new vaults launched without approval from a DAO.

USDD’s TRON DAO Reserve shuts down its DAO

USDD, a Justin Sun-affiliated stablecoin, purports to be governed by the TRON DAO Reserve, but in actuality, no DAO exists.

Justin Sun has announced that USDD 2.0 is launching soon, but details about what this new version will entail are sparse.

The spectacular failure of Terra has caused money to flee from algorithmic stablecoins and has seen many abandon their plans.

Despite Sun and USDD’s claims that it is governed by a DAO, there are no governance votes that seem to correspond to the change.