Will the FTX Crisis Leap to Stablecoins? USDD Loses Stability To $1, Statement From Justin Sun!

BinanceWhile it remains unclear whether or not FTX will buy FTX, the search for liquidity continues on the FTX side.

It was known that FTX and Alameda were trying to liquidate all their holdings to meet the withdrawal demands of their users.

He is also responsible for the depeg incident in USDD recently. Alameda it could be.

While the Tron-backed stablecoin USDD slumped to the $0.98 level for a while, investors stated that the market could not afford a new stablecoin FUD.

While wondering about the reason for the depeg event in USDD, a statement came from the founder of Tron.

Famous CEO of this event AlamedaHe stated that it may have been caused by the sale of .

“I think Alameda sold USDD to meet the liquidity needs of the FTX exchange. The pool looks healthy right now.”

I think probably Alemeda just sold their USDD to cover the liquidity of ftx exchange. The pool currently is back with a healthy rate. 😎 pic.twitter.com/oSIzUNqE0Z

— HE Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) November 9, 2022

There are concerns that FTX’s need for liquidity is creating a huge domino effect and hurting interconnected projects in the industry.

As uneasiness increased with every minute that FTX’s problems were not resolved, investors focused on the news from Binance.