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Instability Surrounding TrueUSD Raises Questions About Implications for Binance

June 23 (Cointime) - The TrueUSD stablecoin network, which has seen a significant increase in market cap from $750 million to over $3 billion, has been facing questions and concerns about its stability and transparency. This could potentially affect Binance, which continues to offer no-fee trading on TUSD pairs despite the unfolding developments in the TrueUSD ecosystem.

TrueUSD utilizes multiple USD rails for both minting and redemption, but has faced criticism and a lack of trust from some users. The discontinuation of minting via Prime Trust and the complexities of TrueUSD's ownership structure, which leads back to Tron founder Justin Sun, have added to the uncertainty surrounding the stablecoin.

This could potentially impact the availability and trading volume of TUSD on Binance, affecting the exchange's revenue and user experience. Despite these challenges, TrueUSD's market cap continues to expand, and its price today is $0.999655 USD with a 24-hour trading volume of $2,541,478,807 USD.

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