Joe Burnett Says Strategy’s STRC Differs From Pre-Collapse UST in Backing and Redemption Terms

Strive Vice President Joe Burnett said Strategy’s STRC differs from UST before the Luna/UST collapse in terms of backing and redemption conditions. According to Odaily, Burnett wrote on X that before the Luna/UST collapse, UST had about $18.7 billion in circulation and was backed by about $3.1 billion in BTC, and UST could be redeemed instantly. Burnett said Strategy now holds about $51.5 billion in BTC, while STRC has about $10.5 billion outstanding and cannot be redeemed instantly. He said these differences distinguish the two.