TRON DAO Reserve Withdraws 2.5 Billion TRX From Binance to Safeguard USDD Peg

TRON DAO Reserve is set to withdraw 2.5 billion TRX out of Binance, making it more difficult for short sellers to short the asset.

The last thing Justin Sun – founder of TRON – would like to see is the UST-Terra fiasco being repeated again on his stablecoin project USDD. The confident founder, who had vowed the lost peg of the stablecoin would be soon recovered, injected $220 million on Wednesday to purchase TRX on Binance.

According to the announcement on Tuesday, he had at least another $280 million available for defending the peg. Following Terra’s debacle, Justin Sun’s algorithmic stablecoin USDD has been the new target by short-sellers. As market selloffs deepened, TRX – one of the predominant crypto assets that back USDD as collateral – has been down over 30% in the past seven days, causing its sister stablecoin to

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