A Youtuber called Coffeezilla has investigated in a video if Justin Sun’s USDD is another Ponzi scheme and whether it will follow Luna's collapse last month after it depegged.
As the cryptocurrency sector continues to grow and digital assets become more well-known, pump-and-dump scams and Ponzi schemes are becoming more common.
Notably, Stephen Findseisen, also known as Coffeezilla, has questioned a brand-new stablecoin named USDD (USDD), a crypto currency released by the TRON DAO Reserve. Indeed, the YouTuber explained in his June 24 video about a potential Ponzi scheme involving the newly issued stablecoin.
There has been debate regarding the investors' potential exposure to risk because the USDD's performance has consistently fallen behind the $1 peg. The USDD had a significant drop with the collapse of the dollar peg on June 13; it hit a low of $0.93 before rising to its previous level of $0.98.
Findseisen pointed out some major parallels and differences between th...