Poloniex has withdrawn more than $50 million in stUSDT on the Ethereum chain in a few months, and the total supply on the chain has dropped to about 1.89 million

According to on-chain data, as , a subsidiary of , has withdrawn from the Staked USDT protocol, its usage on Ethereum has declined significantly. Staked USDT (stUSDT) invests in US Treasuries to pay yields to users who "stake" their tokens, and was previously used extensively by entities and wallets associated with , accounting for the vast majority of USDT reserves in HTX. Additionally, on Ethereum, a large portion of this token is controlled by the address 0x176F3DAb24a159341c0509bB36B833E7fdd0a132, which was previously labeled as "Justin Sun 4" on Etherscan, but is now labeled as "Poloniex 9". This address once controlled 96% of the total stUSDT supply on the Ethereum chain. However, about three months ago, the exchange appears to have withdrawn around $30 million worth of stUSDT, and recently withdrew over $20 million more. The largest holder address on the Ethereum chain, 0x9FCc67D7DB763787BB1c7f3bC7f34d3C548c19Fe, now only holds $1.7 million worth of stUSDT, accounting for around 90% of the total supply (approximately 1.89 million) on that chain. The largest token holder on the TRON chain is the HTX address TDToUxX8sH4z6moQpK3ZLAN24eupu2ivA4, which still holds $195 million worth of stUSDT, accounting for around 85% of the supply on the TRON chain.