TrueUSD
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TrueUSD $TUSD
What it is: A fully backed stablecoin by the US dollar, with regular third-party attestations to ensure full transparency.
Use case: TrueUSD is often used by traders who need to move assets in and out of fiat currency without exposure to volatility. It’s also frequently used in various DeFi applications.
#TrueUSD #TUSD
What it is: A fully backed stablecoin by the US dollar, with regular third-party attestations to ensure full transparency.
Use case: TrueUSD is often used by traders who need to move assets in and out of fiat currency without exposure to volatility. It’s also frequently used in various DeFi applications.
#TrueUSD #TUSD
Here are some popular examples of stablecoins:
1. Tether (USDT): The most widely used stablecoin, pegged to the US dollar. It's commonly used for trading and as a store of value.
2. USD Coin (USDC): Another US dollar-backed stablecoin, known for its transparency and regulatory compliance.
3. Binance USD (BUSD): A stablecoin issued by Binance, also pegged to the US dollar, used within the Binance exchange ecosystem.
4. Dai (DAI): A decentralized stablecoin pegged to the US dollar but maintained through smart contracts on the Ethereum blockchain, rather than a central entity.
5. TrueUSD (TUSD): A fully-backed stablecoin by the US dollar, with regular attestations to verify the reserves.
6. Paxos Standard (PAX): Another US dollar-backed stablecoin, regulated and issued by Paxos Trust Company.
7. TerraUSD (UST): A stablecoin from the Terra blockchain, pegged to the US dollar, though its stability has faced challenges in recent years.
These stablecoins maintain their value by being backed by fiat currencies or through algorithmic mechanisms. They play a major role in the crypto ecosystem, especially for traders looking to avoid volatility.
1. Tether (USDT): The most widely used stablecoin, pegged to the US dollar. It's commonly used for trading and as a store of value.
2. USD Coin (USDC): Another US dollar-backed stablecoin, known for its transparency and regulatory compliance.
3. Binance USD (BUSD): A stablecoin issued by Binance, also pegged to the US dollar, used within the Binance exchange ecosystem.
4. Dai (DAI): A decentralized stablecoin pegged to the US dollar but maintained through smart contracts on the Ethereum blockchain, rather than a central entity.
5. TrueUSD (TUSD): A fully-backed stablecoin by the US dollar, with regular attestations to verify the reserves.
6. Paxos Standard (PAX): Another US dollar-backed stablecoin, regulated and issued by Paxos Trust Company.
7. TerraUSD (UST): A stablecoin from the Terra blockchain, pegged to the US dollar, though its stability has faced challenges in recent years.
These stablecoins maintain their value by being backed by fiat currencies or through algorithmic mechanisms. They play a major role in the crypto ecosystem, especially for traders looking to avoid volatility.
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Tron founder offers emergency loan to support TUSD to end liquidity crisis
Court documents in Hong Kong revealed that "Justin Sun," founder of Tron, secretly intervened to support the stability of the stablecoin TrueUSD (TUSD) after a liquidity crisis faced by "Techteryx," the company that has owned the currency since 2020.
Hong Kong-based First Digital Trust (FDT) managed the reserve but transferred $456 million to "Aria Commodities DMCC" in Dubai, leading to issues with fund recovery.
This transfer caused severe financial difficulties, as "Techteryx" struggled to recover its investments between mid-2022 and early 2023.
As the crisis worsened, the company turned to "Justin Sun," who provided emergency funding in the form of a $400 million loan, which helped stabilize the currency and ensure withdrawal operations for users.
"Techteryx" then filed a lawsuit, accusing FDT and entities linked to Aria of financial mismanagement and fraud, citing unauthorized payments.
In response, FDT defended its actions, while "Matthew Breiten," the actual owner of the "Aria CFF" fund, denied the allegations, asserting that the transactions complied with the agreed-upon terms.
This came amid turmoil in TUSD's price, as it lost its peg to the dollar last January due to heavy selling, coinciding with reports of Binance excluding the currency from its list of eligible assets for certain hedging programs.
$TROY
#tron #TUSD #TrueUSD
$TUSD
Court documents in Hong Kong revealed that "Justin Sun," founder of Tron, secretly intervened to support the stability of the stablecoin TrueUSD (TUSD) after a liquidity crisis faced by "Techteryx," the company that has owned the currency since 2020.
Hong Kong-based First Digital Trust (FDT) managed the reserve but transferred $456 million to "Aria Commodities DMCC" in Dubai, leading to issues with fund recovery.
This transfer caused severe financial difficulties, as "Techteryx" struggled to recover its investments between mid-2022 and early 2023.
As the crisis worsened, the company turned to "Justin Sun," who provided emergency funding in the form of a $400 million loan, which helped stabilize the currency and ensure withdrawal operations for users.
"Techteryx" then filed a lawsuit, accusing FDT and entities linked to Aria of financial mismanagement and fraud, citing unauthorized payments.
In response, FDT defended its actions, while "Matthew Breiten," the actual owner of the "Aria CFF" fund, denied the allegations, asserting that the transactions complied with the agreed-upon terms.
This came amid turmoil in TUSD's price, as it lost its peg to the dollar last January due to heavy selling, coinciding with reports of Binance excluding the currency from its list of eligible assets for certain hedging programs.
$TROY
#tron #TUSD #TrueUSD
$TUSD
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