Justin Sun's USDD removes 12,000 BTC without DAO approval
USDD, the algorithmic stablecoin on Tron supposedly governed by the TRON DAO Reserve, has removed approximately 12,000 bitcoins from its collateral, despite the DAO not approving the change. The coin was originally planned to be a Terra rip-off promoted by Justin Sun, however, ambitions to integrate it into the core of TRON were abandoned following the ignominious failure of Terra-Luna. Previously, the USDD transparency page included approximately 12,000 BTC in 1KVpuCfhftkzJ67ZUegaMuaYey7qni7pPj; however, that address is no longer included. lmao @justinsuntron silently removed the 12.000 btc as USDD collateral recently and it's now 100% backed by tron (except for 20mil. usdt). This was the address: 1KVpuCfhftkzJ67ZUegaMuaYey7qni7pPj — Symbio (@NoCryptFish) August 21, 2024 Despite Sun and USDD’s frequent claims that it is governed by a decentralized autonomous organization (DAO), there are no governance votes that seem to correspond to this change . There h...