Judge for yourself whether this is FUD or not. I'm just conveying the information.
Reports suggest that FTX HTX is insolvent
According to HTX data, the crypto exchange's reserves in ETH amount to $200 million. However, Defillama shows less than $113 million, even when including #weth and #steth.
Exchange users have #USDT balances totaling $624 million on their accounts, but the exchange itself only has $119 million.
The remainder is again stored in "#stUSDT", and people fail to realize that Justin Sun has enabled a feature allowing you to stake in "stUSDT" both as USDT and TUSD.
For #stUSDT to be legitimate, deposits from the staking address should lead to the burning of funds and their offline withdrawal.
Instead, they're directed to Justin Sun's personal wallets, from where he, in turn, collateralizes them into #JustLend.
So, Justin takes USDT from Huobi users' balances, turning them into stUSDT, uses the base USDT to back JustLend, and to buy TUSD on Binance. He then allows the depositing of #TUSD into stUSDT to mine phantom assets on an undisclosed capital.
Based on these figures, plus stUSDT and JustLend, I'd estimate Justin Sun has a debt of around $2,400,000,000, all unbeknownst to the users.
Do you store your funds on HTX?
