$3.1 Billion TUSD Stablecoin Shaky, Briefly Depegs—What’s Happening?
TrueUSD (TUSD), a stablecoin with a market cap exceeding $3.1 billion, appears “shaky” and briefly depegged on November 22, dropping to as
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TUSD
Tron co-founder accused of printing TUSD out of ‘thin air’
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Tron co-founder, Justin Sun, is facing more allegations of engaging in questionable tactics to mint TUSD out of “thin air,” reportedly using deposits from two exchanges, Huobi and Poloniex. Recent on-chain data from Sun’s verified address, “TT2T17…U9N”,
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Crypto Markets ‘Highly Dependent’ on Stablecoins Lacking Transparency, TrueUSD TUSD Poses Risk, Kaiko Says
The largest stablecoins have all endured periods of turmoil in the last few months. In February, New York state regulators ordered Paxos to halt minting Binance USD (BUSD), the third largest stablecoin at the time. Next month, the collapse of Silicon Valley Bank (SVB) temporarily froze a sizable portion of
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TUSD Stablecoin Has $26k of Funds at ‘U.S. Depository Halting Withdrawals,’ Reserve Report Says
However, TUSD issuer previously said that it had “no exposure” to the imploded crypto custodian Prime Trust, which acted as the stablecoin’s banking partner in the U.S. The issuer tweeted it paused minting tokens via Prime Trust on June 10, adding that “minting and redemptions services remain unaffected” through other
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TrueUSD (TUSD) Remains Unaffected by Prime Trust Suspension of Deposits and Withdrawals
The TUSD stablecoins issuer confirmed to the users that it had no exposure to Prime Trust and that all funds are safe. After the acquisition failure of Prime Trust, a fintech and digital assets infrastructure provider, by BitGo earlier this month, the troubles facing the Nevada-based firm resulted in the closure
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TUSD Stablecoin Has ‘No Exposure’ to Embattled Prime Trust
That volatility has rocked usually quiet loan markets for TUSD, especially on Aave v-2, the largest on-chain lending facility for TUSD. At press time, the variable borrow rate for TUSD was over 30% APR; it was even higher earlier in the day, according to Parsec. Source
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Crypto Exchange Binance Will Expand Zero-Fee Trading with TrueUSD (TUSD) after Minting $1B Worth of Stablecoin
Binance started to promote TUSD on its platform after New York state regulator’s forced issuer Paxos to mint Binance-branded stablecoin BUSD in February. Now, the exchange’s crypto wallets hold at least 90% of the stablecoin’s $3.1 billion total market capitalization, according to Arkham data. Source
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Venus Protocol voting to migrate TUSD contracts on BNB Chain
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Venus Protocol, a decentralized borrowing, lending, and earning platform, has officially launched its VIP-129 governance proposal that focuses on migrating the TUSD contract on the BNB Chain. ⚡️VIP-129 is live! This proposal relates to the TUSD contract
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TrueUSD pauses minting of TUSD via Prime Trust, stablecoin briefly depegs
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied TrueUSD (TUSD) has halted the minting of TUSD stablecoin tokens via fintech infrastructure provider, Prime Trust, causing a brief depegging. TrueUSD pauses minting of TUSD on Prime Trust In a June 10 post on its verified Twitter account,
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TrueUSD's Borrowing Rates Jumped to 100% as TUSD Soared to $1.20: Kaiko
Traders shorted TUSD to capture a 20% upside for the token’s intended $1 peg. Source
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