Justin Sun’s Realm Under Siege: USDD Depreciation Strikes Again!

Poloniex Struggles with WBTC Peg

Justin Sun's decentralized stablecoin USDD has depegged for the fifth time, currently trading at $0.97 instead of its intended $1 value.

Issues Extend to Poloniex

Poloniex, another entity associated with Justin Sun, faces challenges in maintaining the peg for its wrapped bitcoin (WBTC) product. TUSD, another stablecoin linked to Sun, also experiences slight depegging.

Broader Struggles for Sun's Projects

Sun's other ventures, including the HTX crypto exchange, encounter difficulties. Customers report being misled, while the HTX token's value drops by nearly 25% due to rebalancing without user consent.

Justin Sun Under Scrutiny

Sun, known for controversies like market manipulation allegations and his unfulfilled space trip, faces setbacks in his ventures. Despite past roles as an ambassador and holding multiple citizenships, including from Grenada, St. Kitts and Nevis, Malta, and China, Sun's fortunes have declined since his involvement with Huobi (now HTX) last year.

Justin Sun's stablecoin USDD depegged again, mirroring struggles in other Sun-associated projects like Poloniex and HTX. Despite past controversies and diverse citizenships, Sun's ventures face ongoing challenges, impacting their stability and reputation negatively.