News
The securities regulator claims the token is undercollateralized and its backing funds are in a risky overseas investment.
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TrueUSD News
TrueUSD (TUSD) is a cryptocurrency designed to provide a stable value within the volatile industry of blockchain-based money. True USD’s price is pegged to the price of the United States dollar in one-to-one ratio. The idea behind the linkage of TrueUSD price to the fiat currency is an attempt to provide the cryptocurrency market traders with a safe haven during the time of huge market fluctuations. The True USD coin was designed by a group of enthusiasts which previously worked with UC Berkeley and Google. The coin became a major success for the team. The TrueUSD market cap has been growing from the coin’s launch and is around 207,5 million dollars at the time of writing this article. The TUSD coin is currently available for traders of cryptocurrency exchanges all over the world.
- News
The Switzerland-based bank reportedly had ties to the TrueUSD stablecoin issuer, Techteryx, crypto asset manager CoinShares and Binance.
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TrueUSD’s price fell to $0.97 on Jan. 18 despite its efforts to assure users of its fiat reserves.
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TUSD tumbled as low as $0.984 on Jan. 15, amid reports that holders are cashing out for USDT and reported difficulties posting real-time attestations of its reserves.
9494 - Overview
The stablecoin ecosystem has evolved significantly over the years, with new regulations and models shaping the landscape.
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In an official statement, cryptocurrency exchange Binance unveiled its plans to implement updates to its zero-fee Bitcoin trading starting Sept. 7.
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Stablecoin issuer TrueUSD maintains that it is not affected by the current challenges facing Prime Trust.
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The recent depeg comes as the TrueUSD team announced a pause on TUSD minting through Prime Trust until further notice.
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The DeFi protocol experienced record-breaking daily trading volume after the USDC depeg as crypto whales fight for assets.
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Despite the minting of $50 million in TUSD, Zhao previously said the regulatory crackdown on stablecoins in the U.S. will cause the USD-back stablecoin market to “shrink.”
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Nearly all major stablecoins lost their U.S. dollar pegs amid the FTX saga, but most have recovered again as markets stabilize.
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The Hong Kong Monetary Authority shared a list of eight questions to seek policy-related recommendations citing five possible regulatory outcomes — no action, opt-in regime, risk-based regime, catch-all regime and blanket ban.
7985 - Market Analysis
Crypto traders flocked to the safety of stablecoins during Tuesday’s market crash.
19627 - Newsletter
Despite the tumble in stablecoin activity, average transactions of stablecoins DAI and UST still exceed those of USDT and USDC.
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Tether, USD Coin, and Binance USD have posted triple-figure market cap growth this year.
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