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Binance Troubles Continue as TrueUSD Minting via Prime Trust is Paused

Binance, the world's largest cryptocurrency exchange, experienced a significant liquidation following the SEC's charges against the exchange and its CEO earlier this week. In addition, TrueUSD (TUSD) minting through Prime Trust has been paused, which could cause further issues for Binance as it recently started supporting TUSD stablecoin. However, TUSD minting and redemption services remain unaffected and will continue to operate normally, with reserves held in Prime Trust, First Digital, Capital Union, Manual, and BitGo. The crypto market has also crashed due to the SEC's actions, with over $350 million in crypto liquidation recorded in the last 24 hours.

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