Is HTX redeeming 80% of TrueUSD?
TrueUSD’s market capitalization is reported as $497 million on CoinGecko, $495 million on CoinMarketCap, and $502 million on the TrueUSD website. However, these numbers include up to $406 million TUSD tokens that Justin Sun-advised HTX has transferred to addresses that may be redemption addresses. Redemptions of TrueUSD involve clients sending funds back to specially designated redemption addresses that look a little strange. TrueUSD explained: “This address is very simple and contains many ‘0’s. This is intentional. You can redeem from any wallet (including exchange wallets) to this address, and all redemptions received by this address will be associated with your TrueUSD account.” Just over 100 days ago, HTX sent 80 million TUSD tokens to 0x7000000Cd0fc88461a74C9df0809B58E7F60ad34. This address appears to be one of the very simple addresses that would count as one of those redemption addresses. There are also several other HTX transacti...