Formerly his public wallet had +1.1bn in it.
See: debank.com/profile/0...9f12cea2c295cff5296/
It's now down to 177mm... If there is bad news this week, it's possible that we could see issues with the USDD reserves and a liquidity crunch to stabilize USDD.
I'm a little worried - saw some reports on Twitter saying that Sun has been deploying capital today and not sure why/what's up.
TRX has been going up, and is currently unable to break 0.061.
The 5m gap was already filled. This area is a visible line historically.
The other thing worrying me is that the Tron Dao Reserves site states that USDD is collateralized 150%, but when I check the actual reserve wallets, it seems to be including the TRX burn contracts. And those values are still overstated by about 200mm on the value collateralizing the 700mm USD in circulation.
So... Assume that Justin Sun has 177mm in his public wallet, that the Tron DAO Reserves may just only slightly over-collateralized, and what happens if a crypto ban hits, price drops 20 or 30% on TRX? I'm a little worried about this piece but it may be nothing. Just a curious look around on a sunday.
See: debank.com/profile/0...9f12cea2c295cff5296/
It's now down to 177mm... If there is bad news this week, it's possible that we could see issues with the USDD reserves and a liquidity crunch to stabilize USDD.
I'm a little worried - saw some reports on Twitter saying that Sun has been deploying capital today and not sure why/what's up.
TRX has been going up, and is currently unable to break 0.061.
The 5m gap was already filled. This area is a visible line historically.
The other thing worrying me is that the Tron Dao Reserves site states that USDD is collateralized 150%, but when I check the actual reserve wallets, it seems to be including the TRX burn contracts. And those values are still overstated by about 200mm on the value collateralizing the 700mm USD in circulation.
So... Assume that Justin Sun has 177mm in his public wallet, that the Tron DAO Reserves may just only slightly over-collateralized, and what happens if a crypto ban hits, price drops 20 or 30% on TRX? I'm a little worried about this piece but it may be nothing. Just a curious look around on a sunday.