Crypto
stUSDT winds down, with TVL at $8.6 million from a $2.3 billion peak
Holders have a six-month window to redeem, and the team gave no reason for the shutdown.
The stUSDT protocol has ended interest accrual and begun winding down. Holders can redeem through its official portal until May 14, 2027. The team gave no reason but said all underlying assets remain fully backed.
Tokens on exchanges or DeFi platforms must move to personal wallets before redeeming. Requests after the deadline go to customer support in monthly batches through August 2027.
Total value locked peaked at about $2.3 billion in November 2023. It stood at about $8.6 million, down from roughly $60 million a year earlier.