Search results for justin sun

  • Funding Rate for Shorting Justin Sun’s TRX in the Negative

    The funding rate of shorting TRX has fallen to -500%. Justin Sun says TRON reserve will deploy $2 billion to ...Read More...

  • Justin Sun: $100M USDT Was Used To Buy BTC and TRX as a Reserve

    Justin Sun says the 100 million USDT was moved to acquire BTC and TRX as a reserve for USDD. TRX ...Read More...

  • Justin Sun Moves 100,000,000 USDT To Accumulate BTC and TRX

    Whale Alert tweeted the anonymous transfer of 100,000 USDT to Binance. Justin Sun replied to the tweet by writing that ...Read More...

  • Justin Sun’s Terra-like Stablecoin Now Boasts Backing in Bitcoin, Tether, Tron

    Launched first as an algorithmic stablecoin, Tron's USDD has changed its operating model to avoid possible collapse like Terra’s UST.

  • Justin Sun Backs Over Collaterization of TRON USDD Stablecoin

    There was a 218 percent collateralization ratio as of Monday. TDR’s homepage displays $787 million in Bitcoin, Tether, and Tron’s

  • Justin Sun Talks About Plans on USDD After The Terra Crash

    Justin Sun talks about lessons learned and plans for Tron’s decentralized stablecoin USDD. Sun came up with solutions to help ...Read More...

  • Tron (TRX)'s Justin Sun Responds To Allegations He Was Behind Terra And UST Collapse, Says His USDD Is Different

    Justin Sun, the founder of the Tron (CRYPTO: TRX) blockchain, laughed off claims that he was behind an organized attack that took down Terra (CRYPTO: LUNA) and its stablecoin TerraUSD (CRYPTO: UST). What Happened: In an interview with CoinDesk, Sun denied any involvement in UST’s de-pegging event and said he believes the situation unfolded due to market panic rather than a coordinated attack. “I think the LUNA problem is still that they used too much leverage. That’s why when the market collapses, the money they have in their reserve is just not enough to recover. We all witnessed the market panic,” said Sun. A week before the chaos encapsulated Terra’s ecosystem and the wider crypto market, Sun launched his own algorithmic stablecoin USDD. Industry watchers criticized the project for being similar in almost every way to Terra’s UST. See Also: HOW TO BUY TRON (TRX) The similarities between UST and USDD aren’t limited to mint and burn mechanics — Tron also plans to build a $10 billion reserve fund for USDD, 80% of which would comprise of Bitcoin (CRYPTO: BTC). Sun stated that one of the main differences in how USDD will operate compared to UST is that it will lower the risk-free yield offered on its staking protocol after it reaches a certain market capitalization. “I think yesterday they had to cut it [interest rate] from 20% to 4%. They should have done that a long time ago,” he said. Sun said Tron’s current 30% yield on offer is “basically a marketing strategy” and the interest rate would be lowered once more people contribute liquidity. “The crypto industry is going to evolve and algorithmic stablecoins have got to be there because I think this is a very important component of our ecosystem in the first place. We can’t blame the algorithm just because LUNA failed,” said Sun. Price Action: According to data from Benzinga Pro, TRX was trading at $0.06, down 18% over the last seven days. Photo: By Piskev91 on Wikimedia © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Justin Sun Promotes High-Yield, Terra-Inspired Stablecoin on Tron

    A TRON lending protocol is offering 30% interest rates for holding USDD stablecoin. What could possibly go wrong?

  • Buying Bitcoin Dip: Tron Founder Justin Sun Follows El Salvador's Nayib Bukele To Load Up 500 BTC

    El Salvador's president Nayib Bukele decided to buy the Bitcoin (CRYPTO: BTC) dip and acquire 500 BTC, setting an example that was followed by another prominent industry figure. What Happened: In a Tuesday tweet, Tron (CRYPTO: TRX) founder Justin Sun wrote that the Tron decentralized autonomous organization (DAO) reserve "echoed" El Salvador's president's decision and acquired 500 BTC at an average price of $31,031 for a total of $15.5 million. The Tron DAO Reserve explained that the measure aims "to safeguard the overall blockchain industry and crypto market." See Also: How To Earn Free Crypto The Tron DAO Reserve was founded in late April to "prevent panic trading caused by financial crises, and mitigate severe and long-term economic downturns." Furthermore, the organization serves as an early custodian for the USDD (CRYPTO: USDD) stablecoin which means that it is tasked with managing its permissions, ensuring price stability and collateralization with its reserves. Photo: Courtesy of Piskev91 via Wikimedia © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Justin Sun’s Us Double D – Is It Too Hot?

    “The @usddnetwork will provide custody service for the $10B worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve.”

  • APENFT Marketplace launch live stream with TRON Founder H.E. Justin Sun

    Singapore, Singapore / April 25 / – H.E. Justin Sun, Founder of TRON, hosted the mainnet APENFT Marketplace launch live stream event on Friday, April 15. The Game Changer-themed event was broadcast in real-time on YouTube, DLive, and Cryptovoxels TRON HQ, marking TRON’s first live stream in the metaverse. During the live stream, APENFT Marketplace […] The post APENFT Marketplace launch live stream with TRON Founder H.E. Justin Sun appeared first on NFT News Today.