June 27 (Cointime) -Stablecoin TUSD is under pressure as Prime Trust suspends deposits and withdrawals. Traders started shorting TUSD with an increasing number of shorts. The price of TUSD also fell to a low of $0.9983. In addition, the SEC’s regulatory pressure on stablecoins is also increasing. TrueUSD stopped minting TUSD through the exchange and said it was waiting for further notice. While TrueUSD states that TUSD is 100% reserve, the discrepancy in funding raises concerns. Parsec data shows that $17.6 million in TUSD was lent on AAVE, with a total market cap of $3.1 billion.
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Traders Start Shorting TUSD as Crypto Custody Firm Prime Trust Suspends Deposits and Withdrawals, Price Drops to $0.9983
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