Coinspeaker
Justin Sun’s High-Yield Project Is Set to Eclipse Huobi Global
In June, Justin Sun floated a brainchild project that was targeted at crypto investors who had a knack for very high yields. Per his pitch, the project promised returns of 5% on low-risk securities like government bonds.
Although there were always high expectations for the project, it may have already surpassed all. Barely two and a half months on, investments in its product – known as stUSDT – have grown to $1.8 billion, signaling what a big hit the project is proving to be.
But then, there is a downside to the story. The huge success so far also poses an appreciable amount of threat to Huobi Global, the crypto exchange that Sun runs.
How So?
There is one major way to invest in stUSDT, and that’s via Huobi. However, this setup has affected the exchange’s crypto reserves in ways that are causing analysts to raise concerns. That is about its ability to cope if a massive outflow of funds occurs.
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