DeFi lender TrueFi's token, TRU, jumped over 140% shortly after Binance minted $50 million worth of the TrueUSD stablecoin.
Binance minted 49.99 million TRU at around 10 a.m. EST today, according to Etherscan data. The move comes just days after Paxos was ordered to stop issuing Binance USD, or BUSD. BUSD accounted for about 37% of the spot trading volume on the exchange in January.
TRU was trading around $0.10 by 5:30 p.m. EST, up around 142% in the past day, according to CoinGecko data.
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