The team of the USDD algorithmic stablecoin in the Tron ecosystem has quietly removed an address with about 12,000 BTC (~$716 million) from the asset's reserves, onchain researcher Symbio has pointed out

As of August 22, the coin has a capitalization of $744 million and a collateral value of ~$1.7 billion (230%). However, with the exception of 18.9 million USDT, the stablecoin's reserves consist almost entirely of 10.9 billion TRX (~$1.68 billion)

Justin Sun published a post regarding USDD in which he acknowledged that a collateral ratio of “over 300%” represents “not a very efficient use of capital”, but did not comment on the disappearance of bitcoins from the reserve fund