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USDD

avoid.net/usdd→28/100·72% conf.
[AI-DRAFTED · AWAITING VERIFICATION]

Summary

USDD is a stablecoin issued by the TRON DAO Reserve, launched in May 2022 and marketed as an over-collateralized, algorithmically-assisted alternative to Terra's failed UST. USDD de-pegged from its $1.00 target within weeks of launch and again during the November 2022 FTX collapse, and has since faced sustained criticism over opaque, shifting reserve composition, a defunct governance structure, and the concentration of control and collateral around TRON founder Justin Sun and his exchange HTX. Independent stablecoin rating firm Bluechip assigned USDD the lowest grade ('F') among stablecoins it assessed, citing commingled reserves and an absence of functioning decentralized governance.

Connected Entities

1 entities · 10 linked investigations
Organizations
□USDD
Relationships
    Also appears in
    edgeX Exchange·28Saga EVM Blockchain·32Mach-O Man Malware Campaign (Lazarus / Chollima)·0Q2 2026 DeFi Record Hack Wave·0Gamma Strategies·28Bunni Protocol·28BitGrail·2Axiom DEX Insider Trading (Broox Bauer)·14Thorchain DEX·28Crossmint·70
    Have evidence about USDD?

    Timeline(8 events)

    2022-05-05

    USDD launches on the TRON blockchain, marketed by Justin Sun as a more resilient alternative to Terra's recently-collapsed UST.

    eco.com support article on USDD's depeg history

    2022-06-13

    USDD loses its $1.00 peg roughly five weeks after launch; TRON DAO Reserve deploys billions of dollars in reserve assets attempting to restore parity.

    The Crypto Basic

    2022-11-10

    USDD wobbles from its dollar peg again amid the market-wide panic following the FTX exchange collapse.

    CoinDesk

    2022-12-12

    USDD falls below $0.97, its lowest level since June 2022, despite TRON DAO adding USDC to reserves.

    CoinDesk

    2023-05-01

    TRON DAO Reserve holds what is reported to be its only governance vote in USDD's history, on whether to use burned TRX tokens.

    Protos

    2024-08-21

    TRON DAO Reserve removes approximately 12,000 bitcoin (roughly $750 million) from USDD's disclosed collateral without a corresponding DAO governance vote; the bitcoin address is quietly delisted from USDD's transparency page.

    Protos

    2024-08-22

    Justin Sun announces via his personal account that USDD's backing shifts primarily to TRX, framing the move as correcting inefficient capital allocation; The Block reports USDD is 'no longer backed by bitcoin.'

    The Block

    2026-03-05

    SEC and Rainberry Inc. (Justin Sun, Tron Foundation, BitTorrent Foundation) reach settlement over wash-trading allegations tied to TRX; Rainberry pays $10 million penalty, remaining claims against Tron defendants dismissed with prejudice.

    CoinDesk
    Provenance & Audit Trail

    Decision Log

    • #1publish⛓ pending7/22/2026, 3:24:22 AM
      hash: GYNwqnveAfWXsdwTtGfFK2kgiAbCNqavvz1GrQYkPLD2

    This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

    full audit log →version history →

    model: claude-code-investigator

    generated: 7/22/2026, 3:24:13 AM

    last updated: 7/22/2026, 3:24:22 AM

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