Kenne Michael 
Recent notable cryptocurrency transactions have captivated the attention of both investors and industry experts. In one instance, a prominent figure in the blockchain industry, Justin Sun, exchanged 90254 wstETH for 77,8 million DAI. The acquired DAI was then deposited on the Maker platform to generate an annual percentage yield (APY) of 8%. The entire value of DAI deposits in the DSR exceeds $1 billion.
Another transaction involving a wallet address associated with Justin Sun in the cryptocurrency community has also generated considerable interest. The wallet address TT2T17KZhoDu47i2E4FWxfG79zkEWkU9N was engaged in a significant transaction, according to a report by CoinCu.
This considerable transfer has sparked speculation regarding the motivations behind Sun’s fund’s transfer from JustLend to Huobi, particularly as Huobi’s USDT reserves have increased significantly. According to available data, Huobi’s USDT reserves have increased from approximately $85 million to an impressive $285 million.
In addition, the community is concerned about the decline in Huobi’s asset reserves and the use of stUSDT funds. In response, Huobi provided bank statements that demonstrated their bond purchases. They stated that as of August 6, they had acquired 432 million in liquid assets, in addition to an additional 72 million.
Recently, the community questioned the decline of Huobi's asset reserves and the use of stUSDT's funds. Huobi responded the data website did not update the stUSDT address and showed the Bank Statements for purchasing bonds, as of Aug 6, Huobi had purchased 432m + 72m of liquid…
— Wu Blockchain (@WuBlockchain) August 10, 2023
The procedure involved staking USDT to obtain stUSDT, which was then routed via JustLend to Binance and Bitfinex, where it was transacted as TUSD and USDC. These certificates were ultimately exchanged for US dollars, then used to purchase treasury bonds.