June 16 (Cointime) - Binance has minted over 1 billion TrueUSD (TUSD) coins on the Tron blockchain, possibly in an attempt to offset the damage caused by the tanking Binance coin (BNB) and the current stablecoin crisis. The BNB coin has lost 24% of its market cap since the SEC sued the trading platform on June 5, and Binance allegedly unloaded its Bitcoin stash to buy out some of the tanking BNB.
Additionally, Binance may be hoping to offer the market a more stable stablecoin than USDT, which has recently depegged. TUSD's market cap has ballooned by 172% year-to-date but has not seen a significant change in the previous 24 hours.
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