Justin Sun justified his decision to mint over $800M of TUSD and burn them all with just one word: “t-bills.”
TUSD is still attested for, yet other stablecoins TAUD, TGBP, and TCAD are unattested due to unclear information provided to auditors.
Justin Sun-linked stablecoins, including TUSD, have been struggling amid rumors that Prime Trust had paused minting and redemptions.
The market cap of TrueUSD recently doubled to over $2 billion, but the stablecoin is still surrounded by opaque ownership and behavior.
Sun’s TUSD has seen its market cap go from $750M to nearly $1.2B despite it not being able to get regular attestations from its auditor.
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