Bitcoin24h $75,529.18-2.24%

Ethereum24h $2,341.27-3.18%

XRP24h $1.43-2.76%

BNB24h $623.60-2.98%

Solana24h $85.70-3.56%

TRON24h $0.3279+0.13%

Dogecoin24h $0.0949-4.16%

Hyperliquid24h $43.33-4.35%

UNUS SED LEO24h $10.09-0.47%

Cardano24h $0.2486-3.52%

Justin Sun bailed out $500M stablecoin TUSD, report

Filings reveal that Techteryx, the firm behind TrueUSD, required a loan from Justin Sun after its reserves got stuck in First Digital Trust.

Is HTX redeeming 80% of TrueUSD?

HTX has sent $406 million of the $502 million total TrueUSD to new addresses in the last few months, perhaps pending redemptions.

TrueCoin and TrustToken have settled SEC charges of misrepresenting TrueUSD as 1:1 backed after funds were sent to a speculative, risky fund.

FINMA claims that FlowBank “no longer has sufficient capital for its operations as a bank” and says it’s worried the bank is “over-indebted.”

This dramatic fall in the market cap of TrueUSD follows Binance’s delisting of several TrueUSD pairs on March 15.