Sam Bankman-Fried's Alameda Research is likely behind the USDD dump, says Tron founder.
USDD supply versus collateral. Source: USDD.ioCurrently, almost all the stablecoin collateral worth in TDR's reserve wallets are staked and earning yields in JustLend, the largest lending protocol in the Tron ecosystem by total-value-locked . Meanwhile, 99% of TRX collateral is locked inside a"TDR also appears to be incorrectly including burnt TRX worth over $725 million as collateral.
This may push TRX on an extended decline toward the $0.022-$0.030 range . This area was instrumental as a consolidation channel in August 2020-January 2021 and January 2019-July 2021.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Messari Releases Q3 2022 State of TRON and State of USDD Reports – Sponsored Bitcoin NewsGeneva, Switzerland / November 8, 2022 / – Messari, the leading provider of crypto market intelligence, released two quarterly analysis reports related to
Read more »
Tron Network USDD Stablecoin Wobbles from Dollar Peg Amid Latest Crypto CrisisUSDD, the algorithmic stablecoin championed by Tron founder Justin Sun, fell below 97 cents on multiple exchanges Wednesday. Sun speculated the drop might stem from trading firm Alameda Research selling its USDD holdings. sndr_krisztian reports
Read more »
Alameda Research FTT token transfer from September fuels wild speculationsFTX's downfall came as a surprise to many, but now the focus has shifted towards other SBF-owned entities, with speculation mills rife that FTX's bailout of Alameda Research came to haunt it back.
Read more »
Alameda Research and FTX Ventures websites go darkFTX was backed by big players in the venture capital scene, including Temasek, Sequoia Capital, BlackRock, SoftBank, among others.
Read more »