TUSD’s market value has dropped by more than 52% since March 15 to $616 million
According to CoinGecko data, the market value of TUSD is currently 616 million US dollars, which is a decrease of more than 52% compared to March 15th (1.29 billion US dollars).
TrueUSD Stablecoin Wobbles Off Peg as Redemption Requests Denied and Traders Sell
The stablecoin TrueUSD (TUSD) has been trading below its intended $1 mark, dropping to as low as 96 cents before recovering to 99 cents. Some firms have reported that their redemption requests have been denied, causing a negative net flow of $174.5 million. One large quantitative crypto trading firm has complained about the difficulty in redeeming TUSD for fiat after the collapse of crypto custodian Prime Trust. Tron founder Justin Sun has been closely linked to TUSD, with one wallet address related to him transferring over $60 million to crypto exchange Binance in the past five hours.
Two whales suspected of buying TUSD, including Justin Sun, brought TUSD back to the pegged exchange rate
According to Lookonchain monitoring, whale TT2T17 (suspected to be Sun Yuchen) destroyed 104 million TUSD after decoupling, and then deposited 200 million USDT into Binance, and withdrew 139.56 million TUSD from Binance. Whale TGiwro withdrew 31.6 million TUSD from Binance, deposited it into JustLend after decoupling, borrowed 18.97 million SDT from JustLend, and deposited it into Binance.
MooreHK officially begins to provide assurance services for TUSD
Accounting firm MooreHK announced that it has officially begun providing auditing services for the USD stablecoin TUSD. Founded in 1975, MooreHK is a subsidiary of Moore Global and is one of the world's accounting and consulting service providers.
54 million TUSD destroyed in unknown wallet
Whale Alert monitoring data shows that 54,000,000 TUSD were destroyed in an unknown wallet 4 minutes ago, worth $52,094,880.
TUSD hires Hong Kong accounting firm MooreHK to provide assurance services on its statutory reserves
Stablecoin TrueUSD (TUSD) has announced a partnership with accounting firm MooreHK. Starting from late January 2024, MooreHK will provide daily legal reserve verification services for TUSD and daily verification reports for its stakeholders and TUSD token holders. TUSD has recognized the importance of stablecoin reserve proof and sufficient reserves are crucial for supporting TUSD's growth and development. MooreHK and The Network Firm will both become its partners.
TUSD is currently available via the Binance Web3 wallet
According to official sources, TUSD can now be obtained through the Binance Web3 wallet, and users can trade TUSD on the four major networks of BSC, ETH, Arbitrum, and Avalanche.
The stable currency TUSD is currently trading at 0.9953 USDT, with a 24-hour drop of 0.39%.
According to Binance market data, stablecoin TUSD is currently trading at 0.9953 USDT, with a 24-hour decrease of 0.39%.
77 million TUSD destroyed in unknown wallet
WhaleAlert monitoring shows that 77 million TUSD were destroyed in an unknown wallet about 5 minutes ago, worth $75,841,920.
The assets of the top 100 TUSD wallets decreased by 27.8% in the past week, reaching nearly 200 million US dollars
Charts compiled by Santiment show that in the past week, the total assets of the top 100 TrueUSD wallets decreased by 27.8%, amounting to $181 million. After the significant decrease in the market value of BinanceUSD, TUSD has risen to become the fourth largest stablecoin in October.
