TUSD’s market value has dropped by more than 52% since March 15 to $616 million
According to CoinGecko data, the market value of TUSD is currently 616 million US dollars, which is a decrease of more than 52% compared to March 15th (1.29 billion US dollars).
TrueUSD Stablecoin Wobbles Off Peg as Redemption Requests Denied and Traders Sell
The stablecoin TrueUSD (TUSD) has been trading below its intended $1 mark, dropping to as low as 96 cents before recovering to 99 cents. Some firms have reported that their redemption requests have been denied, causing a negative net flow of $174.5 million. One large quantitative crypto trading firm has complained about the difficulty in redeeming TUSD for fiat after the collapse of crypto custodian Prime Trust. Tron founder Justin Sun has been closely linked to TUSD, with one wallet address related to him transferring over $60 million to crypto exchange Binance in the past five hours.
Two whales suspected of buying TUSD, including Justin Sun, brought TUSD back to the pegged exchange rate
According to Lookonchain monitoring, whale TT2T17 (suspected to be Sun Yuchen) destroyed 104 million TUSD after decoupling, and then deposited 200 million USDT into Binance, and withdrew 139.56 million TUSD from Binance. Whale TGiwro withdrew 31.6 million TUSD from Binance, deposited it into JustLend after decoupling, borrowed 18.97 million SDT from JustLend, and deposited it into Binance.
MooreHK officially begins to provide assurance services for TUSD
Accounting firm MooreHK announced that it has officially begun providing auditing services for the USD stablecoin TUSD. Founded in 1975, MooreHK is a subsidiary of Moore Global and is one of the world's accounting and consulting service providers.
54 million TUSD destroyed in unknown wallet
Whale Alert monitoring data shows that 54,000,000 TUSD were destroyed in an unknown wallet 4 minutes ago, worth $52,094,880.
TUSD hires Hong Kong accounting firm MooreHK to provide assurance services on its statutory reserves
Stablecoin TrueUSD (TUSD) has announced a partnership with accounting firm MooreHK. Starting from late January 2024, MooreHK will provide daily legal reserve verification services for TUSD and daily verification reports for its stakeholders and TUSD token holders. TUSD has recognized the importance of stablecoin reserve proof and sufficient reserves are crucial for supporting TUSD's growth and development. MooreHK and The Network Firm will both become its partners.
TUSD is currently available via the Binance Web3 wallet
According to official sources, TUSD can now be obtained through the Binance Web3 wallet, and users can trade TUSD on the four major networks of BSC, ETH, Arbitrum, and Avalanche.
The stable currency TUSD is currently trading at 0.9953 USDT, with a 24-hour drop of 0.39%.
According to Binance market data, stablecoin TUSD is currently trading at 0.9953 USDT, with a 24-hour decrease of 0.39%.
77 million TUSD destroyed in unknown wallet
WhaleAlert monitoring shows that 77 million TUSD were destroyed in an unknown wallet about 5 minutes ago, worth $75,841,920.
The assets of the top 100 TUSD wallets decreased by 27.8% in the past week, reaching nearly 200 million US dollars
Charts compiled by Santiment show that in the past week, the total assets of the top 100 TrueUSD wallets decreased by 27.8%, amounting to $181 million. After the significant decrease in the market value of BinanceUSD, TUSD has risen to become the fourth largest stablecoin in October.
New dForce Community Proposal Proposes to Reduce TUSD’s Loan-to-Value Ratio to Zero
According to a new Unitus Improvement Proposal (UIP), the dForce community has proposed to lower the LTV (loan-to-value) ratio of TUSD to zero. The proposal states that the TUSD stablecoin experienced a slight decoupling on November 22, dropping to 0.9955 before recovering its peg. The main cause of this event was a surge in sell orders, highlighting the potential impact of large order blocks on liquidity and the possibility of slippage. Therefore, it is recommended to lower the loan-to-value (LTV) ratio of TUSD to 0 in order to more effectively reduce potential risks and strengthen protection for users and assets within the Unitus ecosystem.
TrueUSD: The address starting with 0x7bA7 does not belong to or be controlled by the TUSD team
TrueUSD stated on social media that regarding the address (0x7bA7EF06A2621267f063eF2DB2d482D5B507D8b3), it should be clarified that the address does not have any authority over the TUSD smart contract; it is specifically designated for token deployment. It has no authority over the current TUSD contract or user token assets, and has no impact on the operation of TUSD. The address does not belong to the TUSD team or is controlled by them, and there is no connection between the TUSD team and the address. Since the end of 2020, the TUSD team has obtained ownership of the TUSD contract. TUSD tokens are protected by our smart contract, which is securely owned and managed by the TUSD team.
Analysis: Some Private Keys Used to Deploy TrueUSD May Have Been Leaked
On October 23rd, it was announced that stablecoin issuer TrueUSD clarified in a statement on October 16th that they have "no relationship" with TEURO. However, blockchain analysis company ChainArgos analyzed that the TEURO token contract was deployed using one of TrueUSD's private keys. Given that TrueUSD acknowledged being hacked no later than September 18th and TEURO was deployed 10 days ago, there seems to be only one explanation:
1. Someone has some of TrueUSD's private keys;
2. This means that TrueUSD may not have revealed the full truth about the extent of the hack;
Binance Will Update the BTC Zero-Fee Trading Plan on September 7
According to an official announcement from BlockBeats on August 24th, Binance will update its zero trading fee plan for BTC on September 7th, 2023 at 08:00 Beijing time. The Taker fees for BTC/TUSD spot and leverage trading pairs will be charged based on the corresponding VIP level fee rates of users. At the same time, users can still enjoy zero hanging order fees for BTC/TUSD spot and leverage trading pairs through the TUSD zero hanging order fee promotion.
Rumor Has It That the Founder of Archblock Claims in a Lawsuit That Justin Sun Was the Secret Acquirer of TUSD
@tier10k said：Archblock Founder Claims Justin Sun Was Secret TUSD Acquirer in Lawsuit.
True USD's Liquidity and Pricing Examined Amid Increasing Short Interest and Exposure to Troubled Digital Asset Company Prime Trust
June 29 (Cointime) - Traders are closely watching the liquidity and pricing of True USD (TUSD) stablecoin as short interest rises. Recent reports show that TUSD has a $26,000 exposure to Prime Trust, a digital asset on- and off-ramp company that has been placed under receivership by Nevada regulators.
Binance supports converting the new version of TUSD (BEP20) to the old version of TUSD (BEP20)
June 21 (Cointime) -Binance supports converting the new version of TUSD (BEP20) to the old version of TUSD (BEP20), and users can exchange the two versions of TUSD back and forth through Binance. Entity operation step package: deposit TUSD in the Binance account, use the conversion function to enter the token exchange, and then withdraw TUSD to a wallet that supports BSC.
Binance Adds New TUSD Trading Pairs As Volume of ADA and LTC Increases
Binance has announced that TrueUSD (TUSD) will have three new trading pairs on the exchange, including Litecoin (LTC), Cardano (ADA), and Binance USD (BUSD).
