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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.

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 has been including ‘collateral’ for the USDD algorithmic stablecoin in its reports, raising concerns about solvency.

With no recent capital injections or incentives for short-sellers, solving problems with USDD and USDJ doesn’t seem to be a priority for Sun.