Tron DAO reserve fund removes about $750 million in Bitcoin support, Sun Yuchen says USDD stablecoin is fine
On August 23, according to The Block, Tron founder Justin Sun assured users that the USDD stablecoin was not affected after removing approximately $750 million worth of Bitcoin support from the Tron DAO reserve fund. USDD was originally an algorithmic stablecoin supported by Bitcoin, but is now mainly supported by Tron's native token, TRX. This move has raised concerns about the decentralization of USDD and Sun's influence. Although the collateralization rate of USDD exceeds 230%, an independent report shows that its actual collateralization rate is only 53%, and most of the reserve assets are stored in multi-signature addresses, posing transfer risks.
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