USDD’s Bitcoin collateral was removed without a vote from its DAO, but Justin Sun insists it’s a normal event in DeFi.
Tron founder Justin Sun has played down concerns after the removal of 12,000 Bitcoin used as backing for Decentralized USD, a stablecoin governed by the Tron DAO Reserve.
Blockchain explorer Blockchair shows 12,000 Bitcoin (BTC), worth over $729 million, was removed from an address on Aug. 19 that was previously listed as holding some of the collateral for Decentralized USD (USDD).
Some on X allege Sun himself was responsible for the move. While others have raised concerns that Bitcoin was removed without a vote from the TRON DAO Reserve.
