#tusd — Public Fediverse posts

@GhostOnTheHalfShell @wackJackle some of the stablecoins are definitely shell games that are (probably) unbacked. others have been proven to be unbacked at various times (e.g. Tether). the worst of the worst are the algorithmic stablecoins that claim to be backed by an algorithm but that always and every time collapse (most spectacularly with the $40 billion collapse of Terra/Luna in May 2022).

#JustinSun's #TUSD is a good example; the whole crypto market was supported by #TUSD during the "crypto winter" that turned out to be backed by extremely dodgy offshore financial instruments with nothing resembling a stable value.

Curve Finance Proposal Eyes Reducing TUSD Exposure After SEC Settlement - Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TU... - https://news.bitcoin.com/curve-finance-proposal-eyes-reducing-tusd-exposure-after-sec-settlement/ #wormholeoracle #curve.finance #seccharges #stablecoin #trusttoken #pegkeeper #truecoin #crvusd #defi #tusd #usdm

Curve mulls dropping TUSD as crvUSD backing after SEC charges - The regulator alleged TUSD was 99% backed by a risky offshore fund, rais... - https://cointelegraph.com/news/curve-mulls-dropping-tusd-stablecoin-backing-after-sec-charge #trusttoken #pegkeeper #truecoin #crvusd #curve #tusd #defi #sec

Trusttoken, Truecoin Settle SEC Charges Over Misleading TUSD Claims - The U.S. Securities and Exchange Commission (SEC) announced settled charges agains... - https://news.bitcoin.com/trusttoken-truecoin-settle-sec-charges-over-misleading-tusd-claims/ #unregisteredsecurities #investorrisk #cryptofraud #regulation #settlement #stablecoin #trusttoken #truecoin #truefi #tusd #sec

American #SEC has filed suit against #TrueUSD / #TrustToken arguing that its reserves consisted of 99% illiquid offshore assets and it became unbacked by actual dollars ca. 2022.

While most people outside of #crypto have never heard of TrueUSD's token #TUSD (a competitor to #Tether's #USDT; see my pinned toot) it's worth understanding that TUSD was for most of a year the single most important #stablecoin and the one that was responsible for the *vast* majority of #bitcoin trades on by far the largest crypto marketplace, #Binance. The company is also rumored to be owned by the sketchiest guy in crypto, #JustinSun.

Put another way: the price of #Bitcoin was measured in TUSD, not real USD for most of last year. (Now it's measured mostly in an even sketchier stablecoin #FDUSD.)

link: https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-145.pdf

#Uspol #uspolitics #finance #markets #stockmarket #btc #garygensler #justinSun

SEC settles charges against TrueCoin, TrustToken over TrueUSD - The securities regulator claims the token is undercollateralized and its... - https://cointelegraph.com/news/sec-settles-truecoin-trusttoken-trueusd-fraud #investmentcontracts #unregisteredsales #cryptoregulation #stablecoinfraud #secsettlement #trusttoken #truecoin #trueusd #truefi #tusd #sec

Synthetix Stablecoin SUSD Drops Below $1 Parity, Struggles to Rebound - According to current market prices, the synthetix usd (SUSD) stablecoin has fallen... - https://news.bitcoin.com/synthetix-stablecoin-susd-drops-below-1-parity-struggles-to-rebound/ #stablecoinrankings #synthetixusd(susd) #stablecoingrades #stablecoins #synthetix #altcoins #bluechip #depegged #depeg #susd #tusd #usdd #ust

TUSD’s Supply Halves as It Drops to 8th Rank Among Stablecoins - Over the past week, the stablecoin trueusd (TUSD) experienced a notable decrease i... - https://news.bitcoin.com/tusds-supply-halves-as-it-drops-to-8th-rank-among-stablecoins/ #firstdigitaltrust #cryptocurrency #stablecoins #altcoins #ethereum #trueusd #crypto #tron #tusd

Stablecoin TUSD Remains Below Intended $1 Peg as Avara’s GHO Surges to Near-Peg Heights - Market analysis reveals ongoing stability challenges for the stablecoin trueusd in... - https://news.bitcoin.com/stablecoin-tusd-remains-below-intended-1-peg-as-avaras-gho-surges-to-near-peg-heights/ #cryptocurrency #stablecoins #altcoins #binance #trueusd #crypto #avara #depeg #aave #tusd #gho

TrueUSD Wobbles Towards $1 Peg Amid Reported Redemption Issues - TUSD went as low as 96 cents as Binance data shows traders apparently sold over $300 mill... - https://www.coindesk.com/markets/2024/01/18/trueusd-wobbles-towards-1-peg-amid-reported-redemption-issues/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #stablecoin #justinsun #markets #news #tusd

TUSD Says Recent Depegging is Related to Binance Launchpool Activities - TrueUSD (TUSD) has clarified that the recent depegging of its value from the US dollar is... - https://cryptonews.com/news/tusd-says-recent-depegging-is-related-to-binance-launchpool-activities.htm #altcoinnews #stablecoin #tusd

TUSD’s Stability Wavers — Value Fluctuates Below $1 Peg Amid Market Turbulence and Binance’s Dominant Hold - Market insights reveal that on January 15, 2024, the stablecoin TUSD deviated from... - https://news.bitcoin.com/tusds-stability-wavers-value-fluctuates-below-1-peg-amid-market-turbulence-and-binances-dominant-hold/ #cryptocurrency #stablecoins #depegging #altcoins #ethereum #binance #trueusd #crypto #depeg #tron #tusd

TUSD Loses $1 Peg Amid Binance's FDUSD Focus: Analyst - Binance introduced zero-fee FDUSD trading in December, giving users an incentive to sell.... - https://www.coindesk.com/markets/2024/01/16/tusd-loses-1-peg-amid-binances-fdusd-focus-analyst/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #firstdigitaltrust #justinsun #markets #binance #news #tusd #tron #htx

TrueUSD (TUSD) Partners With Top Accounting Firm To Enhance Transparency For Crypto Holders - In a significant move to enhance transparency and trust, TrueUSD (TUSD) has partne... - https://coingape.com/trueusd-tusd-partners-with-top-accounting-firm-to-enhance-transparency-for-crypto-holders/ #24/7cryptocurrencynews #stablecoinnews #stablecoin #trueusd #tusd

Breaking: TrueUSD (TUSD) Stablecoin Depegs, Here’s Why - TrueUSD (TUSD) stablecoin depegs and dropped to a low of $0.995 amid various facto... - https://coingape.com/trueusd-tusd-stablecoin-depegs-heres-why/ #24/7cryptocurrencynews #stablecoinnews #trueusd #tusd

Data Signals Start Of Bitcoin And Crypto Market Rally - The world’s largest crypto exchange Binance’s decision to move away from BUSD and TUSD st... - https://coingape.com/data-signals-start-of-bitcoin-and-crypto-market-rally/ #24/7cryptocurrencynews #cryptomarket #altcoinnews #bitcoinnews #binance #tether #tusd

Binance to Gradually Phase Out Support for BUSD Stablecoin - The world’s largest cryptocurrency exchange by global trade volume, Binance, has a... - https://news.bitcoin.com/binance-to-gradually-phase-out-support-for-busd-stablecoin/ #discontinuation #marketvaluation #nansenanalytics #cryptocurrency #cross-margin #regulators #stablecoin #phase-out #exchange #binance #fdusd #paxos #news #busd #swap #tusd #usdt

August Chronicles Another Month of Decline as 9 of 10 Leading Stablecoins Witness Supply Contraction - Over the past 30 days, nine of the leading ten stablecoins by market cap experienc... - https://news.bitcoin.com/august-chronicles-another-month-of-decline-as-9-of-10-leading-stablecoins-witness-supply-contraction/ #stablecoineconomy #supplyshrinkage #cryptocurrency #dollaraltcoins #tradingvolume #contraction #stablecoin #marketcap #altcoins #decline #tether #fdusd #busd #frax #tusd #dai

Binance Triggers Another Bitcoin And Crypto Market Selloff In September - The world’s largest crypto exchange Binance on Thursday said it plans to make changes to ... - https://coingape.com/binance-triggers-another-bitcoin-and-crypto-market-selloff-in-september/ #24/7cryptocurrencynews #bitcoinnews #binance #bitcoin #tusd

TrueUSD (TUSD) Depegs, Rises To 70% On Curve Pool After Prime Trust Disaster - While TrueUSD (TUSD) denies its exposure to crypto custodian Prime Trust, it has depegged... - https://coingape.com/trueusd-tusd-depegs-rises-to-70-on-curve-pool-after-prime-trust-disaster/ #24/7cryptocurrencynews #cryptocustodian #stablecoinnews #binance #tusd

TrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether - TUSD trades at a discount versus Tether as former FTX provider Armanino's rebranded outle... - https://www.coindesk.com/markets/2023/06/28/trueusd-depegs-on-binanceus-drops-to-080-against-tether/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #markets #trueusd #news #tusd #usdt

TrueUSD Stablecoin Has $26k of Funds at ‘U.S. Depository Halting Withdrawals,’ Reserve Report Says - The stablecoin issuer said last week that it had “no exposure” to the failed crypto custo... - https://www.coindesk.com/business/2023/06/27/trueusd-stablecoin-has-26k-of-funds-at-us-depository-halting-withdrawals-reserve-report-says/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #stablecoin #primetrust #finance #trueusd #news #tusd

Stablecoin Market Records $2.4B in Redemptions in 30 Days as Leading Tokens Experience Supply Decline - According to statistics, over the span of 30 days, from May 15 to June 15, 2022, m... - https://news.bitcoin.com/stablecoin-market-records-2-4b-in-redemptions-in-30-days-as-leading-tokens-experience-supply-decline/ #stablecoinredemptions #decliningsupplies #marketvaluation #cryptoeconomy #dollar-pegged #stableassets #stablecoins #altcoins #busd #frax #gusd #lusd #tusd #usdc #usdd #usdp

Breaking: Binance Woes Rise As TUSD Minting Paused, But There’s A Catch - The world’s largest crypto exchange Binance witnessed massive liquidation on Satur... - https://coingape.com/binance-woes-rise-as-tusd-minting-paused-but-theres-a-catch/ #24/7cryptocurrencynews #stablecoinnews #stablecoins #binance #tusd

Stablecoin Market Shrinks for 14th Straight Month, Posing Potential Headwinds for Crypto Prices - The continued contraction of the stablecoin market capitalization suggests that the crypt... - https://www.coindesk.com/markets/2023/05/24/stablecoin-market-shrinks-for-14th-straight-month-posing-potential-headwinds-for-crypto-prices/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #stablecoins #markets #trading #volume #news #tusd

Stablecoin Economy Shrinks by $7.3 Billion in 2023, USDC and BUSD Record Mass Redemptions - From the beginning of this year, the crypto economy has surged by 41.77%, reaching... - https://news.bitcoin.com/stablecoin-economy-shrinks-by-7-3-billion-in-2023-usdc-and-busd-record-mass-redemptions/ #marketcapitalization #stablecoineconomy #marketvaluation #substantialloss #cryptoeconomy #dollar-pegged #stableassets #redemptions #stablecoins #growth #surge #news #busd #tusd #usdc #dai

TrueUSD's Borrowing Rates Jumped to 100% as TUSD Soared to $1.20: Kaiko - Traders shorted TUSD to capture a 20% upside for the token’s intended $1 peg. - https://www.coindesk.com/markets/2023/05/03/trueusds-borrowing-rates-jumped-to-100-as-tusd-soared-to-120-kaiko/?utm_medium=referral&utm_source=rss&utm_campaign=headlines #markets #trading #news #tusd

Tron Founder Reveals Real Reason Behind TUSD Deposit on Binance - Following Changpeng “CZ” Zhao’s warnings, Justin Sun has revealed on Twitter the r... - https://coingape.com/justin-sun-reveals-real-reason-behind-tusd-deposit-on-binance/ #24/7cryptocurrencynews #binanceceo #justinsun #tron #tusd

Dogecoin (DOGE) Price To Hit $1 After This Binance Announcement - The world’s largest crypto exchange Binance on Thursday said it has added DOGE/TUS... - https://coingape.com/dogecoin-doge-price-to-hit-1-after-this-binance-announcement/ #24/7cryptocurrencynews #dogecoinprice #altcoinnews #dogecoin #binance #doge #tusd

Tether Grows 2.3% as Stablecoin Economy Loses $2.4 Billion in Value Since March 31 - While several top digital assets have decreased in value against the U.S. dollar o... - https://news.bitcoin.com/tether-grows-2-3-as-stablecoin-economy-loses-2-4-billion-in-value-since-march-31/ #marketcapitalization #stablecoineconomy #redemptions #fraxdollar #paxdollar #altcoins #tether #value #busd #gusd #lusd #tusd #usdc #usdd #dai #mim