Justin Sun responds to the withdrawal of BTC collateral from USDD: USDD does not belong to anyone
The Block's report on Sun Yuchen's withdrawal of BTC collateral from USDD, Sun Yuchen responded on Platform X: "USDD is a decentralized stablecoin protocol that has nothing to do with anyone's name, just like Satoshi Nakamoto created Bitcoin, but Bitcoin does not belong to Satoshi Nakamoto." Earlier, Tron DAO Reserve withdrew about $750 million worth of Bitcoin on Wednesday, which was previously used to support the USDD stablecoin. Tron founder Justin Sun said users don't need to worry and explained that this move was to improve capital efficiency, as the previous long-term collateralization rate for USDD exceeded 300%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
2,800 BTC flowed out of Bitwise four hours ago, worth more than $214 million
Trump launches inaugural committee, former Georgia Senator Kelly Loeffler chairs
X briefly broke through $0.0003
Trending news
MoreCrypto prices
More
