Soon after the debut of decentralized USD, Justin Sun revealed his plan to purchase UST (USDD). He purchased 1 million UST on the Curve trading site according to rumors. Members of the crypto community have had various views on his conduct.
Many people have voiced discontent with this purchase, calling it weird. Many individuals seem irritated by the obvious similarities between UST and USDD. Many people are perplexed why he spent so much money on a coin that he branded.
Remember that the Tron blockchain was built as a copy of the Ethereum network. Concerns about the ethereum white paper being plagiarized flooded the internet, yet it was difficult to overlook the reality that the Tron blockchain had several beneficial changes.
As a result, a few individuals are on the fence about whether or not this latest action is ethical. But, instead, worries are focused on the advantages that this new creature might provide.
Justin Sun is said to have revealed his USDD fantasy. He says that the currency will be on par with bitcoin in terms of adoption in a few years, and that its stability would help investors gain confidence. For the time being, his main emphasis is on monetary stability, and he believes everything else will fall into place after that.
The Sun unveils USSD intentions
He feels there are other options for managing money laundering problems and that freezing unlawful cash may not be useful. He also indicated that the Tron DAO, a separate entity, would seek ways to combat money laundering.
He is now working with Tron DAO and other companies to strengthen the reserves. Nevertheless, he also said that the company has $1 billion in reserve for its recent launch and that if additional money is required in the future, there are plans in place to cover it.
Some have said that the USDD would surpass the UST, but Justin Sun’s investment shatters such expectations. The whole community is waiting to see what this step means for UST and any decentralized stable coinage that may emerge after the introduction of the USDD.