1 year ago
Stablecoin issuer Tether (USDT) has stated that it is unaffiliated with the Justin Sun-linked Staked Tether (stUSDT) protocol, according to a connection sent to CryptoSlate.
A Tether spokesperson said:
“stUSDT is an autarkic task and is not affiliated with Tether.”
This would connote that stUSDT’s assertion of concern with Tether is false.
According to stUSDT’s website, the protocol listed different crypto projects similar Justin Sun-linked companies similar HTX (formerly Huobi) and JustLend, MetaMask, and TrueUSD (TUSD) arsenic its partners.
Source: stUSDT WebsitestUSDT is the archetypal Real-World Assets (RWA) platform operating connected the TRON network, serving arsenic a wealth marketplace fund. The protocol pays a 4.21% output to users who involvement their stablecoins successful instrumentality for investing them successful real-world assets.
Since its launch, the task has experienced important maturation successful the full worth of assets nether its custody, which presently stands astatine astir $914 cardinal arsenic of property time. This surge has played a pivotal relation successful propelling the broader enlargement of the decentralized concern (DeFi) subsector focused connected RWA.
Meanwhile, stUSDT is nether aggravated scrutiny from the crypto assemblage implicit its governance and transparency. On-chain data indicates that a conception of stUSDT’s token proviso is associated with addresses nether the power of Justin Sun.
Furthermore, a person introspection reveals a important attraction of stUSDT connected his HTX platform, with DeFiLlama data suggesting that much than $400 cardinal worthy of this plus is held there.
The station Tether denies affiliation with Justin Sun-linked stUSDT protocol appeared archetypal connected CryptoSlate.
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