Bitcoin24h $73,552.65+0.24%

Ethereum24h $2,016.98+0.03%

BNB24h $641.53+0.31%

XRP24h $1.32+0.18%

Solana24h $82.13-0.20%

TRON24h $0.3438-2.36%

Dogecoin24h $0.0999+0.06%

Hyperliquid24h $66.07+9.13%

UNUS SED LEO24h $9.98-0.48%

Zcash24h $533.21-3.87%

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.