Kaleem1
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The 'Stablecoin' Ponzi Scheme - The USDD Collapse Incident.
A certain team launched an 'algorithmic stablecoin' called USDD, claiming to be pegged to the US dollar with dual backing of 'mining pool profits + on-chain assets', promising users a static return of 0.5% daily after depositing mainstream cryptocurrencies to exchange for USDD, and also offering dynamic rebates of 10%-30% for bringing in new users.
The project did not establish a real algorithmic arbitrage mechanism, and the so-called 'on-chain reserve assets' were fabricated through fake contracts to create false holding data. Initially, it relied on funds from new users to pay returns to old users, creating the illusion of 'high returns with zero risk', attracting over 100,000 users in just three months and raising over 8 billion RMB equivalent.
When the new funds could no longer cover the redemption pressure, the project suddenly announced that 'the on-chain was attacked by hackers and the reserve assets were stolen', immediately closing the deposit and withdrawal channels, and the core team absconded with the funds. Subsequent investigations revealed that the project had already transferred over 60% of user funds through overseas anonymous accounts shortly after its launch, with the remaining funds used to pay promotional commissions and create fake trading flows.
In the end, participating users were left with almost nothing, and this case became a typical example of 'no real reserves + Ponzi model' in the field of algorithmic stablecoins.
A certain team launched an 'algorithmic stablecoin' called USDD, claiming to be pegged to the US dollar with dual backing of 'mining pool profits + on-chain assets', promising users a static return of 0.5% daily after depositing mainstream cryptocurrencies to exchange for USDD, and also offering dynamic rebates of 10%-30% for bringing in new users.
The project did not establish a real algorithmic arbitrage mechanism, and the so-called 'on-chain reserve assets' were fabricated through fake contracts to create false holding data. Initially, it relied on funds from new users to pay returns to old users, creating the illusion of 'high returns with zero risk', attracting over 100,000 users in just three months and raising over 8 billion RMB equivalent.
When the new funds could no longer cover the redemption pressure, the project suddenly announced that 'the on-chain was attacked by hackers and the reserve assets were stolen', immediately closing the deposit and withdrawal channels, and the core team absconded with the funds. Subsequent investigations revealed that the project had already transferred over 60% of user funds through overseas anonymous accounts shortly after its launch, with the remaining funds used to pay promotional commissions and create fake trading flows.
In the end, participating users were left with almost nothing, and this case became a typical example of 'no real reserves + Ponzi model' in the field of algorithmic stablecoins.
Yes
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XRP
🧧🎁 My Family 🎁🧧
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If my posts brought you even one useful insight, I’d appreciate a small favor:
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Every share means more analysis, more alpha, and more giveaways for this community.
Let’s grow together 🤝❤️
Thank you for always being here.
Much love & respect 💙
#RedPacketMission #redpacket #SaidBNB
You’ve supported me, learned with me, and grown with me on this journey — and I’m truly grateful 🙏
🎁 I’ve dropped a Red Packet for YOU
👉 Don’t forget to claim it before it expires
If my posts brought you even one useful insight, I’d appreciate a small favor:
🔁 Share this post and help me reach 30,000 followers — we’re so close 🚀
Every share means more analysis, more alpha, and more giveaways for this community.
Let’s grow together 🤝❤️
Thank you for always being here.
Much love & respect 💙
#RedPacketMission #redpacket #SaidBNB
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2
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1
Latest News:
The Bank of Japan raises interest rates to a 30-year high: In December, the Bank of Japan will increase the policy interest rate from 0.5% to 0.75%, marking a new high in interest rates in thirty years and signaling a formal shift from its ultra-loose monetary policy. This rate hike is due to the core CPI exceeding the 2% target for 50 consecutive months, and the yen's exchange rate against the US dollar has fallen to a 10-month low, while also facing multiple pressures including pressure from the US. The rate hike may compress the yen's arbitrage space, prompting global investors to sell assets to return to yen, which in turn affects global asset prices.
The Bank of Japan raises interest rates to a 30-year high: In December, the Bank of Japan will increase the policy interest rate from 0.5% to 0.75%, marking a new high in interest rates in thirty years and signaling a formal shift from its ultra-loose monetary policy. This rate hike is due to the core CPI exceeding the 2% target for 50 consecutive months, and the yen's exchange rate against the US dollar has fallen to a 10-month low, while also facing multiple pressures including pressure from the US. The rate hike may compress the yen's arbitrage space, prompting global investors to sell assets to return to yen, which in turn affects global asset prices.
9
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btc
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Sol🩷
Post 4
SOL🩷✨️
🔸 Price: $125.65
🔸 24H Change: -5.09%
🔸 7D Change: -7.78%
🔸 24H High Price: $135.43
🔸 24H Low Price: $123.63
SOL🩷✨️
🔸 Price: $125.65
🔸 24H Change: -5.09%
🔸 7D Change: -7.78%
🔸 24H High Price: $135.43
🔸 24H Low Price: $123.63
Yes
Red envelopes are coming 🧧🧧
Forward the post
As long as you have no regrets, that's enough
Time can't prove anything
It's normal for anyone to part ways at any time
There are unexpected encounters in this world
Which will lead to unforeseen affections
And there will also be sudden goodbyes
And an unrelenting ending
Forward the post
As long as you have no regrets, that's enough
Time can't prove anything
It's normal for anyone to part ways at any time
There are unexpected encounters in this world
Which will lead to unforeseen affections
And there will also be sudden goodbyes
And an unrelenting ending
8
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1
OCC speaks out! Will cryptocurrency institutions finally achieve equality with bank licenses?
Today I saw the statement from the OCC director, and I couldn't help but clap my hands: this is the long-awaited moment of 'recognition' that the crypto community has been waiting for several years! Gould said that cryptocurrency companies applying for federal bank licenses should be treated equally to traditional institutions. This sounds simple, but in reality, it opens a door for the cryptocurrency industry into the traditional financial system.
We in the crypto circle all understand that in the past, it was incredibly difficult for crypto institutions to touch bank licenses, it was like the 'difficult road to Shu'—the regulators always used 'risk' as a shield, implementing double standards. Now, the OCC has directly stated that digital asset custody is not a new thing; electronic business has been around for decades, and the banking system has completely evolved from telegraphs to blockchain. This statement hits the nail on the head.
What's even more crucial is that this year the OCC has received 14 bank applications related to digital assets, which is almost equal to the total of the past four years. What does this data mean? It shows that cryptocurrency institutions are no longer satisfied with 'marginal play' but want to formally squeeze into the core of finance. Just like Circle applying for a national trust bank license and Erebor Bank aiming at services for crypto enterprises, both capital and institutions are rushing to get ahead.
Are some worried that regulation can't keep up? Gould also mentioned that the existing framework can cover it. In fact, in recent years, U.S. regulation has been loosening; the Federal Reserve has withdrawn its crypto guidelines, and banks like SoFi have started providing crypto trading services. This statement from the OCC is equivalent to giving banks and crypto institutions a sense of reassurance, and it is highly likely that more traditional financial players will enter the market in the future.
For our crypto circle, this is not only a regulatory benefit but also a signal of the industry's mainstreaming. Platform coins like BNB might also benefit from the entry of traditional finance, ushering in more application scenarios. However, it still needs to be reminded that the realization of benefits takes time; the short-term market may be volatile, but in the long term, the era of 'regular troops' in the crypto industry is truly about to arrive!
$POWR
{future}(POWRUSDT)
$RDNT
{future}(RDNTUSDT)
$ Customer service Xiao He
{alpha}(560x3ac8e2c113d5d7824ac6ebe82a3c60b1b9d64444)
Today I saw the statement from the OCC director, and I couldn't help but clap my hands: this is the long-awaited moment of 'recognition' that the crypto community has been waiting for several years! Gould said that cryptocurrency companies applying for federal bank licenses should be treated equally to traditional institutions. This sounds simple, but in reality, it opens a door for the cryptocurrency industry into the traditional financial system.
We in the crypto circle all understand that in the past, it was incredibly difficult for crypto institutions to touch bank licenses, it was like the 'difficult road to Shu'—the regulators always used 'risk' as a shield, implementing double standards. Now, the OCC has directly stated that digital asset custody is not a new thing; electronic business has been around for decades, and the banking system has completely evolved from telegraphs to blockchain. This statement hits the nail on the head.
What's even more crucial is that this year the OCC has received 14 bank applications related to digital assets, which is almost equal to the total of the past four years. What does this data mean? It shows that cryptocurrency institutions are no longer satisfied with 'marginal play' but want to formally squeeze into the core of finance. Just like Circle applying for a national trust bank license and Erebor Bank aiming at services for crypto enterprises, both capital and institutions are rushing to get ahead.
Are some worried that regulation can't keep up? Gould also mentioned that the existing framework can cover it. In fact, in recent years, U.S. regulation has been loosening; the Federal Reserve has withdrawn its crypto guidelines, and banks like SoFi have started providing crypto trading services. This statement from the OCC is equivalent to giving banks and crypto institutions a sense of reassurance, and it is highly likely that more traditional financial players will enter the market in the future.
For our crypto circle, this is not only a regulatory benefit but also a signal of the industry's mainstreaming. Platform coins like BNB might also benefit from the entry of traditional finance, ushering in more application scenarios. However, it still needs to be reminded that the realization of benefits takes time; the short-term market may be volatile, but in the long term, the era of 'regular troops' in the crypto industry is truly about to arrive!
$POWR
{future}(POWRUSDT)
$RDNT
{future}(RDNTUSDT)
$ Customer service Xiao He
{alpha}(560x3ac8e2c113d5d7824ac6ebe82a3c60b1b9d64444)
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Pepe
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bnb
Good Morning 🌞 Claim BNB and Repost ... Thanks 👍
bnb
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two
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99
🧧🧧🧧🧧🧧🧧🧧
Go with the flow, things will come together
Keep a calm mindset, be approachable
#巨鲸动向
Go with the flow, things will come together
Keep a calm mindset, be approachable
#巨鲸动向
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