Justin Sun stored USDD reserves at HTX for proof-of-reserves
HTX , formerly Huobi, offers a ‘ proof- of- reserve s’ process meant to help assure users that it has the assets they need to be a solvent exchange. At one point, it even claimed that a third party would verify the proof- of- reserve s process before eventually admitting, “After the release of the relevant announcement, we have connected with a third party, but then no third party can do this. So there are no third parties.” Unfortunately, and perhaps contributing to the lack of third parties, it appears that HTX has been including ‘collateral’ for the USDD algorithmic stablecoin in its reports. HTX provides a software tool that intends to make it possible for third parties to verify that HTX has the assets it’s supposed to. The ‘snapshot’ was most recently updated for the beginning of December and included the Tron address, TZ1SsapyhKNWaVLca6P2qgVzkHTdk6nkXa. friendly reminder to stay FAR AWAY from anything JustinSun related...