— AI, BitTorrent
Justin Sun’s graveyard of abandoned crypto projects
Justin Sun has launched and endorsed a huge number of cryptocurrency projects, and many have since been abandoned.
Read more (7 min) →Results for USDD
12 stories, newest first
— Justin Sun, USDD
Justin Sun’s USDD has problems
USDD, the Justin Sun-founded stablecoin, has abandoned its DAO, rebuilt its collateral system, and has highly concentrated holdings.
— HTX, Justin Sun
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, Tether
USDD 2.0 has no whitepaper, no governance, and 20% yield
Justin Sun has announced that USDD 2.0 is launching soon, but details about what this new version will entail are sparse.
— Luna, Stablecoins
How Terra collapse nearly killed algorithmic stablecoins
The spectacular failure of Terra has caused money to flee from algorithmic stablecoins and has seen many abandon their plans.
Justin Sun’s USDD removes 12,000 BTC without DAO approval
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.
USDD partners ignore HTX danger
USDD, an algorithmic stablecoin, stores part of its collateral at HTX, a fact that no partners were willing to address.
Justin Sun’s empire crumbles as USDD depegs again
Sun's USDD is meant to stay priced at a dollar via a series of algorithmic mechanisms but it's deviated 3% and currently trades for $0.97.
— HTX, Justin Sun
Justin Sun stored USDD reserves at HTX for proof-of-reserves
HTX has been including 'collateral' for the USDD algorithmic stablecoin in its reports, raising concerns about solvency.