Tron’s USDD Stablecoin Removes 4000 Bitcoin Reserves, Justin Sun Explains Why

Quick Summary:

The Tron DAO Reserve undertook a major decision about removing Bitcoins as part of the reserves for its USDD stablecoin while flowing the proceeds back into HTX coin.

Over the last year, they have systematically reduced the Bitcoin reserves by 42% but still hold 8K Bitcoins as part of their reserves.

While being bullish on his memecoin strategy, Sun suggests burning $1 billion of this revenue while allocating $2 billion to stakers and covering transaction fees.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Justin sun Bitcoin Reserve SunPump TRON DAO Reserve 24/7 Cryptocurrency News Tron (TRX) News Altcoin News TRON (TRX) price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 04:09:32 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 428 words

Reading Time: 3 minutes read

Sentences: 35 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22223767

View Article Analysis

About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 26 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #59

Publisher Details

Frequently Asked Questions